PTC completes sale of Kepware and ThingWorx to TPG for USD 523 million

Reuters03-16 20:31

PTC completes sale of Kepware and ThingWorx to TPG for USD 523 million

PTC completed the sale of its Kepware industrial connectivity business and ThingWorx IoT business to TPG. Cash proceeds at closing were USD 523 million, reflecting USD 42 million of closing adjustments related to working capital and indebtedness. Net after-tax proceeds were estimated at about USD 375 million after roughly USD 40 million of divestiture-related costs and about USD 110 million of cash taxes. PTC said the net after-tax proceeds are intended to be used for share repurchases, including a USD 375 million accelerated share repurchase program.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. PTC Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-107315), on March 16, 2026, and is solely responsible for the information contained therein.

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