|By Elizabeth White||
|August 7, 2014 09:00 PM EDT||
PTC has announced it has signed a definitive agreement to acquire Axeda Corporation, a pioneer in the development of solutions to securely connect machines and sensors to the cloud, for approximately $170 million in cash.
“The world we live in is changing around us, and the pace of that change is accelerating as more and more machines, sensors, and products connect via the Internet to their makers, to their operators, and to each other,” said PTC president and CEO Jim Heppelmann. “In recent years, products have become tremendous sources of intelligence as they have been increasingly instrumented with sensors. Until now, manufacturers have been constrained in their ability to securely collect that data and make sense of it all. Axeda’s innovative approach to machine connectivity delivers exactly what manufacturers need to capitalize on the massive amounts of data now available from their smart, connected products.”
Axeda’s technology innovation, extensive customer base, and partnerships directly complement the PTC ThingWorx business, and will accelerate PTC’s ability to deliver best-in-class solutions across the entire Internet of Things technology stack. Subject to satisfaction of customary closing conditions and certain regulatory approvals, the transaction is expected to be completed in PTC's fiscal Q4 2014.
Secure connectivity, and the ability to leverage machine data to create new business value, are critical components of the Internet of Things (IoT) technology stack and are in increasing demand as more companies pursue a smart, connected product strategy. An innovator in the IoT technology market, Axeda currently serves more than 150 customers, processing hundreds of millions of machine messages daily across multiple industry sectors. The company has a broad partner ecosystem that includes leading mobile network operators, edge device and design-in device makers, systems integrators, and business systems/analytics providers and its technology leadership lead to several strategic OEM agreements with leading IoT technology and solution providers.
Core to Axeda’s IoT technology is the ability to enable companies to establish secure connectivity and remotely monitor and manage a wide range of machines, sensors, and devices. The Axeda Machine Cloud Service includes machine-to-machine (M2M) and IoT connectivity services, software agents, and toolkits that enable companies to connect their products to the cloud using virtually any communication channel (e.g. cellular networks, the Internet, WiFi, or satellite). Axeda’s end-to-end security strategy covers all levels of the IoT technology stack, including network, application, user, and data security. Axeda has attained ISO 27001:2005 certification, supporting the company’s focus on delivering the highest levels of security, performance, and availability.
In addition, the Axeda Connected Machine Management application set empowers companies to remotely monitor and service products, including the ability to deliver over-the-air software updates.
“Axeda was early to see the potential of the IoT space and we consider ourselves a true market innovator,” said Todd DeSisto, president and CEO, Axeda. “Our technology solutions enable companies to connect to, and manage machines and the data they generate to create new business opportunities. We share PTC’s vision for the transformative power of smart, connected products and are excited to contribute to PTC’s leadership position in this fast growing market.”
In the IoT era, PTC’s customers are developing increasingly smart and connected products which can generate value in new ways as streams of real-time operational data are captured, analyzed, and shared to deepen a company’s understanding of its products’ performance, use, and reliability. PTC intends to leverage the Axeda technology portfolio to complement its existing ThingWorx® rapid application development platform and its existing service lifecycle management (SLM) and extended product lifecycle management (PLM) solution portfolio.
“In less than a year, PTC has quickly scaled to a position of leadership in helping manufacturers seize the opportunity presented by a smart, connected world,” concluded Heppelmann. “We believe the combination of ThingWorx, Axeda and our existing SLM and PLM solution portfolio, will establish PTC as the only provider of true closed-loop lifecycle management solutions for the Internet of Things.”
The acquisition is expected to add $25 million to $30 million of revenue in FY'15. PTC expects to draw on its credit facility to finance the transaction. Axeda has approximately 160 employees primarily located in the United States.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Jun. 25, 2016 06:15 PM EDT Reads: 942
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Jun. 25, 2016 05:00 PM EDT Reads: 626
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, discussed how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He also discussed how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors ...
Jun. 25, 2016 04:30 PM EDT Reads: 697
Digital Initiatives create new ways of conducting business, which drive the need for increasingly advanced security and regulatory compliance challenges with exponentially more damaging consequences. In the BMC and Forbes Insights Survey in 2016, 97% of executives said they expect a rise in data breach attempts in the next 12 months. Sixty percent said operations and security teams have only a general understanding of each other’s requirements, resulting in a “SecOps gap” leaving organizations u...
Jun. 25, 2016 03:00 PM EDT Reads: 944
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Jun. 25, 2016 03:00 PM EDT Reads: 1,492
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Jun. 25, 2016 02:15 PM EDT Reads: 991
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jun. 25, 2016 02:00 PM EDT Reads: 952
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Jun. 25, 2016 01:45 PM EDT Reads: 847
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection. In his session at 18th Cloud Expo, Bradley Holt, a Developer Advocate with IBM Cloud Data Services, discussed...
Jun. 25, 2016 01:30 PM EDT Reads: 710
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Jun. 25, 2016 01:15 PM EDT Reads: 1,182
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.
Jun. 25, 2016 12:00 PM EDT Reads: 538
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Jun. 25, 2016 11:45 AM EDT Reads: 1,146
"SpeedyCloud's specialty lies in providing cloud services - we provide IaaS for Internet and enterprises companies," explained Hao Yu, CEO and co-founder of SpeedyCloud, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jun. 25, 2016 11:15 AM EDT Reads: 708
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Jun. 25, 2016 11:15 AM EDT Reads: 1,144
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jun. 25, 2016 11:00 AM EDT Reads: 454
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Jun. 25, 2016 11:00 AM EDT Reads: 1,266
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jun. 25, 2016 10:30 AM EDT Reads: 1,212
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Jun. 25, 2016 10:30 AM EDT Reads: 795
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Jun. 25, 2016 10:15 AM EDT Reads: 1,206
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jun. 25, 2016 10:00 AM EDT Reads: 644