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PTC Completes Acquisition of AxedaNEEDHAM, Mass. --(Business Wire)-- PTC (Nasdaq: PTC) today completed its acquisition of Axeda Corporation, a developer of solutions that securely connect machines and sensors to the cloud. Axeda's (News - Alert) 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 to its customers in the Internet of Things era. An innovator in the IoT technology market, Axeda 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, device makers, systems integrators, and business systems/analytics providers - and its technology leadership has led to several strategic OEM agreements with leading IoT technology and solution providers. Axeda offers leading-edge IoT technology built on a modern architecture purpose-built for collecting and organizing the world's machine and sensor data. Axeda software enables companies to establish secure connectivity, and remotely monitor, manage, and service a wide range of connected machines, sensors, and devices. Examples of capabilities include:
"With Axeda, PTC gains leading technology, customers, partners, revenue, and employees with deep IoT expertise," said PTC president and CEO Jim Heppelmann. "This acquisition complements our ThingWorx business, supplements our SLM offering, enhances our portfolio of PLM and other applications, and positions us to better serve our customers in the dynamic new world of smart, connected products. We now have established one of the industry's largest Centers of Excellence focused on the Internet of Things." Additional Resources
About PTC PTC (Nasdaq: PTC) enables manufacturers to achieve sustained product and service advantage. PTC's technology solutions help customers transform the way they create, operate, and service products for a smart, connected world. Founded in 1985, PTC employs approximately 6,000 professionals serving more than 28,000 businesses in rapidly-evolving, globally-distributed manufacturing industries worldwide. Get more information at www.PTC.com. Forward Looking Statements and Risks Statements in this press release about the opportunities created for us and our customers by the acquisition and the Internet of Things are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include the following: customers may not adopt our IoT solutions when or at the rates we expect, any technology leadership position we attain may not generate the revenue we expect, the opportunities expected to be created by the Internet of Things may not materialize as quickly or as we or others expect, and we may be unable to retain and maintain relationships with key employees and strategic partners of Axeda, as well as other risks and uncertainties described in reports we file with the Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. PTC, the PTC logo, ThingWorx and Axeda are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and in other countries.
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