PTC and Rockwell Automation have entered into a definitive agreement for a strategic partnership that should accelerate the growth of both companies and enable them to be the partner of choice for customers worldwide wishing to undertake a digital transformation of their industrial activities. As part of the partnership, Rockwell Automation will invest $1 billion in PTC, and Blake Moret, CEO and Chairman of Rockwell Automation, will join PTC's Board of Directors upon closing.
This partnership will enable the two companies to develop synergies in terms of resources, technologies, industrial sector expertise and global market presence, as well as to develop technical collaboration and propose joint business initiatives. In particular, PTC and Rockwell Automation have agreed to align their respective smart factory technologies and combine the award-winning ThingWorx Internet of Things (IoT) solution, Kepware industrial connectivity and Vuforia augmented reality (AR) platforms with Rockwell Automation's best-in-class FactoryTalk MES systems, FactoryTalk Analytics solution and industrial automation platforms. This unrivalled integrated information solution will enable customers to increase productivity, optimize plant efficiency, reduce operational risks and improve system interoperability.
" This strategic alliance will enable us to offer a global package of cutting-edge technologies, combining those of PTC, the leader in IoT and augmented reality, and Rockwell Automation, the leader in industrial automation and information. All our customers will thus be able to benefit from the expertise of two world-renowned companies capable of understanding their issues and offering them comprehensive, innovative and integrated solutionssaid Jim Heppelmann, CEO of PTC. Leveraging Rockwell Automation's industrial control and software technology, strong brand and immense domain expertise, PTC's award-winning technology enables industrial companies to capitalize on the promise of the Industrial IoT. I look forward to this partnership and the new opportunities that will contribute to our success. ".
Blake Moret, CEO of Rockwell Automation, had this to say: " We believe that this strategic partnership will enable us to accelerate our growth by leveraging the innovations of both our companies to increase the value of the connected enterprise and strengthen our relationships with our customers. As information and operational technologies converge, there is a natural alignment between our companies. Together, we will deliver the most comprehensive and flexible IoT offering in the industry. Our financial investment in PTC reflects our confidence in this partnership, and in the potential for subscription-based sales growth from this new collaboration. ".
Rockwell Automation's Solutions division will be a preferred supplier for deployment and implementation, supported by a strong partner ecosystem established by both companies. The strengths of the two companies complement each other in terms of geographical areas, markets and applications.
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