PTC has announced it has signed a definitive agreement to acquire Kepware for approximately 0million, plus up to an additional m based on achievement of certain strategic initiatives and financial results. The acquisition will enhance PTC’s portfolio of Internet of Things (IoT) technology, and accelerate the company’s entry into the factory setting and Industrial IoT (IIoT).

Kepware’s flagship product, KEPServerEX, connects disparate devices and control systems, providing users with a single source of industrial data. KEPServerEX will become a strategic component of the PTC ThingWorx IoT technology platform.

Once the companies’ products are integrated, machine data will be able to be aggregated into the PTC ThingWorx platform, integrated with an array of internal and external information, and then automatically analysed using ThingWorx machine learning capabilities. The integration will allow organisations to gain enterprise-wide insight and to proactively optimise mission-critical processes enabling them to improve operational performance, quality, and time to market.

Industrial environments already leveraging Kepware technology will be able to benefit from the capabilities available in the PTC ThingWorx IoT technology platform. The acquisition of Kepware will also provide a connectivity option for PTC customers to gain visibility into data from a range of industrial controls and production equipment, enabling them to kick-start their smart, connected factory initiatives.

“PTC is committed to helping manufacturers, infrastructure operators, and others realise the enormous value inherent in the IoT,” said Jim Heppelmann, president and CEO, PTC. “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 intends to maintain the Kepware partner ecosystem and to continue developing and enhancing the Kepware technology, once acquired.