New owner, same support: what the TPG acquisition means for you

In early 2026, a pivotal transaction was finalized – one that will significantly reshape the Industrial IoT market. TPG Capital acquired PTC’s entire Industrial Internet of Things product portfolio, including the ThingWorx platform and Kepware. For many companies working on digitization of production, this is a significant change. We understand that for companies working with these tools, such news may raise concerns. After all, we’re talking about critical infrastructure and investment in your facilities. That’s why we want to clear up any doubts and show what this change means in practice.

What actually happened?

PTC sold its entire Industrial IoT segment to TPG Capital Fund. The transaction was valued at approximately one billion dollars and included:

• ThingWorx – platform for building industrial IoT applications
• Kepware – communications server connecting OT devices with IT systems

The decision resulted from natural business evolution. PTC determined that two worlds – CAD/PLM and Industrial IoT are developing on sufficiently different tracks that they require distinct market strategies.

Why is PTC selling ThingWorx?

The answer is straightforward and business focused. PTC has been expanding its portfolio over recent years – acquiring ServiceMax and earlier Arena and Onshape. Managing such an extensive product set requires enormous resources and diverse competencies.

The decision to sell ThingWorx is a strategic choice: better to be excellent in two areas than average in four. PTC is returning to its roots – CAD and product lifecycle management. That’s been their DNA for decades.

Meanwhile, ThingWorx, Kepware, and other IoT products get something equally valuable: dedicated focus. Under TPG Capital’s wing, they can develop as a standalone entity without competing for development budget with CAD projects.

Who now owns ThingWorx?

ThingWorx currently belongs to TPG Capital – one of the world’s largest private equity funds specializing in technology. Their portfolio includes brands like McAfee, DigiCert, and Forcepoint. They have experience in scaling tech companies and building value through strategic investments.

What’s important: TPG will establish a dedicated company to manage ThingWorx and Kepware. As an experienced investor in enterprise software, TPG brings both capital and know-how to support the continued development of both products. For the ecosystem, this means an owner with clear focus and resources to invest in growth.

What does this mean for the IIoT Industry?

Looking at the broader market perspective, ThingWorx’s ownership change could step up development across the Industrial IoT segment. Instead of being an „add-on” to the CAD/PLM portfolio, ThingWorx and Kepware become TPG’s core focus – meaning dedicated teams, larger R&D budgets, and full attention to industrial needs. TPG has a track record of scaling tech companies fast, so we can expect them to roll out improvements in product integration, edge computing, and partner ecosystem.

That’s the broad market picture. But what does all this specifically mean for you – our clients?

What does this mean to you?

We understand that any such ownership changes raise questions. So, let’s be direct: nothing changes for your projects. Actually – it changes for the better.

TT PSC has been a PTC partner and Global System Integrator for ThingWorx and Kepware for years. We remain one – our collaboration with PTC in the CAD/PLM area (Creo, Windchill, Codebeamer) continues unchanged, and we’re actively developing this service portfolio. At the same time, we’re gaining a new partner – TPG for Industrial IoT products.

Nothing changes on our side: the same team, the same expertise, and the same certified capabilities built around your installations and environment. As the TPG acquisition of ThingWorx prompts some partners to exit Industrial IoT and refocus on PLM, we’re reinforcing our commitment to IIoT ensuring stability and continuity for your operations.

Nothing changes in terms of support, development, or service. If you were considering implementation, we’re in the same position to guide you through the entire process.

What we specifically offer for ThingWorx and Kepware

• Greenfield as well as brownfield implementations – architecture design, installation, configuration, integration with existing systems
• Technical audits – assessment of current installations, identification of optimization areas, development recommendations
• Functionality development – building new applications, expanding existing solutions, custom integrations
• Upgrades and migrations – updates to newer versions, migration between environments, architecture modernization
• Maintenance and technical support – ongoing system maintenance, troubleshooting, monitoring, SLA
• Training and knowledge transfer – workshops for client teams, technical documentation, best practices

Expanded collaboration: adding Kepware reselling

What’s changing for the better? We’re also becoming an official Kepware reseller.

For many of you, this means a simpler procurement path. Instead of separate channels for the ThingWorx platform and Kepware server, you can handle everything in one place. One partner, one contract, one point of contact.

For new projects, this is an operational advantage: faster quotes, consistent technical support, and easier license management. Especially in multi-site environments where Kepware forms the foundation of OT/IT communication – collecting data from dozens of legacy PLCs and feeding it into the Unified Namespace architecture – the ability to get comprehensive support from a single GSI has real business value.

TT PSC + TPG: new chapter, proven competencies

Conversations with TPG are already in progress. TPG understands the value of the partner ecosystem and is committed to continuing relationships with experienced integrators.

We were auditing and implementing ThingWorx in production facilities long before IIoT became a buzzword. We still understand the specifics of your brownfield environments, we know how to integrate Kepware with legacy PLCs without stopping production lines, how to build ThingWorx applications in Unified Namespace architecture, how to migrate data from SCADA systems to modern IoT platforms.

Our mission is clear: to remain Europe’s leading IIoT partner

TPG has announced significant investments in product development. For us: better vendor support. For you: confidence that your platform has long-term commitment and direction. The bottom line? Your ThingWorx and Kepware systems keep running. Your support contacts stay the same. Your project timelines remain on track. That’s what matters.