PTC made a couple of announcement regarding internet of things and smart city projects right before it was awarded the IoT Innovation Vendor of the Year award at the on-going CES (Consumer Electronics Show) event in LA, Nevada.
Acquisition of Kepware
In an attempt to expand its IoT offerings, PTC decided to acquire Kepware for $100 million. Additional $18 million are expected to be credited to Kepware upon achievement of certain financial and strategic results. Kepware is well-known for its offerings related to communications connectivity to businesses operating in industrial automation field. PTC assumes that factory setting and Industrial IoT fields have a great future amid rapidly increasing scope for IoT, and this initiative will help it create a name for itself in these markets.
PTC ThingWorx Joins Forces With Envision America
Smart City is another field that is set to touch newer heights in the future on the back of growing IoT market. PTC doesn’t want to leave any stone unturned to extend its support to smart city project, which is why it has announced that one of its businesses ThingWorx will lend its support to Envision America, a nonprofit organization, working towards accelerating usage of IoT to address challenges related to water, energy and transportation.
Both the firms are delighted to associate with each other and work towards a common goal of developing smart city project in the US.
PTC: IoT Innovation Vendor of the Year
The ongoing CES event 2016 has given tech enthusiasts a chance to witness a host of companies unveiling their IoT-based innovations. Amongst all such companies, PTC was awarded the IoT Innovation Vendor of the Year Award by Compass Intelligence – a leading marketing analytics and consulting firm.
The Compass Intelligence Annual Awards are given to those companies that show extraordinary work in fields such as wireless data communications, mobile computing, eco-friendly products & services, and the internet of things. You can click here and know more about PTC’s efforts that helped it grab this prestigious award.