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© mariusz szachowski dreamstime.com Business | July 02, 2018

Rockwell Automation makes USD 1bn equity investment in PTC

PTC Inc. and Rockwell Automation, Inc. have entered into a strategic partnership definitive agreement. As part of the partnership, Rockwell Automation will make a USD 1 billion equity investment in PTC, acquiring 10'582'010 newly issued shares representing an approximate 8.4% ownership interest in PTC.
Rockwell Automation’s Chairman and CEO, Blake Moret will join PTC’s board of directors effective with the closing of the equity transaction.

“This strategic alliance will provide the industry with the broadest integrated suite of best-in-class technology, backed by PTC, the leader in IoT and augmented reality, and Rockwell Automation , the leader in industrial automation and information. Our combined customer base will benefit from two world-class organizations that understand their business and deliver comprehensive, innovative, and integrated solutions,” said Jim Heppelmann , President and CEO, PTC.

Blake Moret, Chairman and CEO, Rockwell Automation , said, “We believe this strategic partnership will enable us to accelerate growth by building on both companies’ records of innovation to extend the value of the Connected Enterprise and deepen our customer relationships. As IT and OT converge, there is a natural alignment between our companies. Together, we will offer the most comprehensive and flexible IoT offering in the industrial space. Our equity investment in PTC reflects our confidence in the partnership and the significant upside we expect it to create for both companies as we work together to profitably grow subscription revenue.”
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November 14 2018 11:24 am V11.8.1-2