Bowstring Advises PTC (NASDAQ: PTC) in its Acquisition of Kepware Technologies
March 22, 2016 | Atlanta, GA
Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to PTC Inc. (“PTC” or “the Company”) in its recent acquisition of Kepware, Inc. (“Kepware”). Based in Portland, Maine, Kepware is a leading software development company that provides communications connectivity to industrial automation environments. The acquisition enhances PTC’s portfolio of Internet of Things (“IoT”) technology, and accelerates the Company’s entry into the factory setting and Industrial IoT (“IIoT”). PTC acquired Kepware for approximately $100 million, plus up to an additional $18 million based on achievement of certain strategic initiatives and financial results.
Iain Michel, CVP Corporate Development at PTC, said, “We engaged Bowstring Advisors based on their expertise in the software and IoT sectors. Bowstring’s industry knowledge, attentive client service, and commitment to our transaction objectives helped to drive a successful transaction for us.”
Tom Donahue, Managing Director at Bowstring Advisors, added, “We were excited to be able to advise PTC in completing this highly strategic acquisition. The combination of PTC and Kepware greatly enhances each company’s Internet of Things capabilities for the industrial sector and will provide value-add for both companies’ customers and partners. We appreciate the opportunity to work with leading organizations like PTC, helping them to further strengthen their market position.”
This acquisition was effective January 12, 2016.
We engaged Bowstring Advisors based on their expertise in the software and IoT sectors. Bowstring's industry knowledge, attentive client service, and commitment to our transaction objectives helped to drive a successful transaction for us.
CVP Corporate Development