PTC To Buy Kepware To Enhance Internet Of Things - Quick Facts

(RTTNews) - PTC (PTC) announced a definitive agreement to acquire Kepware, a software development company that provides communications connectivity to industrial automation environments, for approximately $100 million, plus up to an additional $18 million based on achievement of certain strategic initiatives and financial results. PTC expects to draw on its credit facility to finance the transaction and expects Kepware to be neutral to its fiscal year 2016 non-GAAP EPS.

Located in Portland, Maine, Kepware serves customers in more than 120 countries in manufacturing, oil and gas, building automation, and power and utilities. PTC said the acquisition will enhance its portfolio of Internet of Things technology, and accelerate the entry into the factory setting and Industrial IoT.