TEHRAN, June 11 -Automation equipment maker Rockwell Automation Inc said on Monday it would make a $1 billion equity investment in software maker PTC Inc, as the companies plan to focus on technologies increasingly being used in smart factories.
TEHRAN, Young Journalists Club (YJC) -Automation equipment maker Rockwell Automation Inc said on Monday it would make a $1 billion equity investment in software maker PTC Inc, as the companies plan to focus on technologies increasingly being used in smart factories.
As part of the deal, Rockwell would be acquiring an 8.4 percent ownership interest in PTC.
Rockwell Automation’s chairman and Chief Executive Officer Blake Moret will join PTC’s board of directors effective with the closing of the deal within the next two months, the companies said.
PTC offers a portfolio of computer-aided design modeling, product and service lifecycle management software products for manufacturers.
Milwaukee, Wisconsin-based Rockwell has been strengthening its capabilities in the so-called internet of things, or technology that allows different devices and systems to communicate with each other over the internet.
Source:Reuters