TPG to Acquire PTCs Industrial Connectivity and IoT Businesses
Summary
PTC has agreed to sell its Kepware industrial connectivity and ThingWorx IoT businesses to TPG. The deal lets PTC concentrate on its core CAD, PLM, ALM, and SLM software offerings and its AI and SaaS strategy. Kepware and ThingWorx will get additional capital and operating support to grow under TPG ownership. The transaction is expected to close in the first half of 2026, pending regulatory approvals and other closing conditions.
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Engineering & Scientific
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SaaS
PLM Software
CAD Software
Linked Companies
PTC
$1B+