PTC sells Kepware and ThingWorx to TPG

2025-11-05 · Publisher : PTC · Domain : Industry 4.0 & 5.0

PTC sells its industrial connectivity (Kepware) and IoT (ThingWorx) businesses to TPG to refocus on CAD, PLM and AI. The sale closes on 16 March 2026.

What changes

Definitive agreement announced on 5 November 2025 with TPG Capital.
Kepware connects controllers, equipment and applications; ThingWorx is an industrial IoT platform.
PTC focuses on CAD, PLM, ALM and SLM, serving its "Intelligent Product Lifecycle" vision.
Sale completed on 16 March 2026; amount not disclosed in the press release.

### What changes On 5 November 2025, PTC and TPG announce a definitive agreement: TPG acquires **Kepware** (industrial connectivity) and **ThingWorx** (industrial IoT platform). PTC, which made IoT a major focus in the 2010s, refocuses on product lifecycle management. The sale closes on **16 March 2026**. ### Key facts - Kepware acts as a communication platform between automation devices and applications in manufacturing, oil and gas or utilities. - ThingWorx connects systems, analyzes data and enables remote device management. - TPG invests through TPG Capital, its US and European private equity platform. - PTC concentrates its resources on CAD, PLM, ALM and SLM, as well as AI and SaaS. - The transaction amount is not disclosed in the press release. ### Why it matters In many plants, Kepware is the gateway that brings PLC data up to the MES, historian or cloud. The change of owner does not change the product overnight, but it raises questions about integration roadmaps with the PTC ecosystem. The split also reflects a repositioning: major PLM vendors bet on product data and AI rather than generic IoT platforms. ### Takeaway OT connectivity becomes a standalone business again, backed by a private equity firm, while PTC narrows its scope.

PTC sells Kepware and ThingWorx to TPG

What changes

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