PTC, Rockwell Automation Form IoT Partnership

Noria news wires
Tags: IIoT

PTC and Rockwell Automation recently announced that they have entered into a definitive agreement for a strategic partnership. As part of the partnership, the companies have agreed to align their respective smart factory technologies and combine PTC’s ThingWorx IoT, Kepware industrial connectivity, and Vuforia augmented reality (AR) platforms with Rockwell Automation’s FactoryTalk MES, FactoryTalk Analytics, and Industrial Automation platforms.

The new partnership will leverage both companies’ resources, technologies, industry expertise and market presence, as well as include technical collaboration across the organizations. Rockwell Automation will also make a $1 billion equity investment in PTC, and Blake Moret, Rockwell Automation’s chairman and CEO, will join PTC’s board of directors.

"We believe this strategic partnership will enable us to accelerate growth by building on both companies’ records of innovation to extend the value of the Connected Enterprise and deepen our customer relationships," Moret said. "Together, we will offer the most comprehensive and flexible IoT offering in the industrial space."

"I am incredibly excited about this partnership and the opportunity it provides to fuel our future success," said Jim Heppelmann, president and CEO of PTC. "Leveraging Rockwell Automation’s industry-leading industrial control and software technology, strong brand, and domain expertise with PTC’s award-winning technology enables industrial enterprises to capitalize on the promise of the Industrial IoT."

The investment transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close within 60 days.

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