What's Happening?
Velotic has been launched as a new independent industrial software company, following the acquisition of Proficy and PTC's industrial connectivity and IoT businesses by TPG. Velotic aims to revolutionize industrial and manufacturing technology by offering
a suite of AI-powered, hardware-agnostic platforms designed to enhance productivity and efficiency. The company, based in the Boston area, will integrate Proficy's automation expertise, Kepware's connectivity solutions, and ThingWorx's data analytics capabilities to provide comprehensive solutions for manufacturing, oil & gas, utilities, and infrastructure sectors. Brian Shepherd, a veteran in manufacturing technology, will lead Velotic as CEO, with James Heppelmann serving as Executive Chairman.
Why It's Important?
The launch of Velotic signifies a major shift in the industrial software landscape, emphasizing the growing importance of AI in manufacturing processes. By consolidating key technologies under one umbrella, Velotic is poised to address the increasing demand for advanced data-driven solutions that can improve operational efficiency and competitiveness. This move is expected to benefit industries that rely heavily on precise data management and automation, potentially leading to significant advancements in manufacturing capabilities and productivity. The backing by TPG and the leadership of experienced industry veterans further underscore the strategic importance of this initiative in shaping the future of industrial technology.
