MassTLC member PTC, a leader in IoT and augmented reality, announced on Monday that it will receive a $1 billion investment from Wisconsin’s Rockwell Automation,which makes software and sensors to help companies automate their factories.
This strategic partnership between the two companies goes beyond the investment. As reported by the BBJ, “Rockwell will work with PTC to integrate the two companies’ ‘smart factory technologies,’ which help manufacturers collect and analyze data on the performance of their factory machinery, among other capabilities. Rockwell chairman and CEO Blake Moret will also join PTC’s board of directors.”
Read the BBJ for full details of the deal, which is expected to go through in the next 60 days.
