Massachusetts, July 24, 2014: Technology solutions company PTC has announced it had signed a definitive agreement to acquire privately-held Axeda Corporation , a leader in the development of solutions to securely connect machines and sensors to the Cloud, for approximately US $170 million in an all-cash deal.
In a press release, the company said Axeda’s technology innovation, extensive customer base, and powerful partnerships directly complement the PTC ThingWorx business , and will accelerate PTC’s ability to deliver best-in-class solutions across the entire Internet of Things (IoT) technology stack. The transaction is expected to be completed in PTC’s fiscal Q4 2014.
In December last year, as reported by this website, PTC had announced it had acquired ThingWorx, creators of an award-winning platform for building and running applications for the Internet of Things (IoT), for approximately US$112 million, plus a possible earn-out of up to US $18 million. The acquisition of ThingWorx positions PTC as a major player in the emerging IoT era.
It was in April this year that Axeda had announced a technology partnership with Intel. An innovator in the IoT technology market, Axeda currently serves more than 150 customers, processing hundreds of millions of machine messages daily across multiple industry sectors. The company has a broad partner ecosystem that includes leading mobile network operators, edge device and design-in device makers, systems integrators, and business systems/analytics providers and its technology leadership lead to several strategic OEM agreements with leading IoT technology and solution providers.
Core to Axeda’s IoT technology is the ability to enable companies to establish secure connectivity and remotely monitor and manage a wide range of machines, sensors, and devices. The Axeda Machine Cloud Service includes Machine-to-Machine and IoT connectivity services, software agents, and toolkits that enable companies to connect their products to the cloud using virtually any communication channel (e.g. cellular networks, the Internet, WiFi, or satellite).
Image Credit: PTC
– Advertising Message –