Needham-Based PTC Acquires Maine Software Development Company Kepware

The Needham-based technology company PTC (NASDAQ: PTC) has acquired a software development company from Maine.

According to a press release, PTC and the Portland-based Kepware signed a definitive agreement for PTC to acquire Kepware for approximately $100 million. Kepware is a software development company that provides communications connectivity to industrial automation environments.

Both PTC and Kepware will be able to realize great value through the acquisition, according to the press release.

“PTC is committed to helping manufacturers, infrastructure operators, and others realize the enormous value inherent in the Internet of Things,” said PTC president and CEO Jim Heppelmann in the release. “With this acquisition, we will gain entry into heterogeneous factory and operating environments with robust technology, an impressive list of customers, and a high-quality, profitable company with incredibly talented employees.”

PTC says that the acquisition will help enhance its portfolio of Internet of Things technology as well as to “accelerate the company’s entry into the factory setting and Industrial IoT,” according to the release.

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