I thought something like this would happen when asset management firm TPG scarfed up some castoff small software divisions of larger companies. They’ve brought GE Vernova’s former Proficy business and PTC’s former Kepware and ThingWorx businesses together into a new company.
From the press release (which must mention AI to meet today’s standards), Velotic will provide new levels of AI-driven manufacturing efficiency, productivity, and data visibility.
The company will be led by Brian Shepherd (CEO) and James Heppelmann (Executive Chairman). Shepherd was formerly at Rockwell Automation and PTC. Heppelmann led PTC.
My observation is that this company will have a tough go competing against Inductive Automation (yes, they sponsor me, but don’t tell me what to write, and I like their continual innovation). Then there are established companies such as AVEVA (Wonderware, etc.) and Rockwell Automation (FactoryTalk etc.).
This will be interesting to watch.
Velotic today announced its launch as a leading independent industrial software company, uniting multiple trusted platforms to advance a new era for industrial and manufacturing technology. The formation of Velotic coincides with the closings of TPG’s previously announced acquisitions of Proficy, the former manufacturing software business of GE Vernova, and PTC’s former industrial connectivity and Internet of Things (IoT) businesses. Backed by TPG, Velotic delivers a leading suite of data-driven solutions focused on improving processes by unlocking efficiency, enhancing productivity, and providing visibility across complex data and industrial operations.
The obligatory marketing justification geared not to you, the prospect or user, but to market analysts.
Velotic is purpose-built to meet the rapidly evolving productivity and data needs of manufacturing operators across the globe with a focus on creating next-generation, AI-powered industrial and manufacturing software solutions. By bringing together Proficy’s automation and production management expertise with Kepware’s industrial connectivity leadership and ThingWorx’s best-in-class industrial data and analytics applications, Velotic will provide customers with greater visibility, unparalleled insight, and the robust data and AI capabilities needed to produce and compete in today’s complex manufacturing environment.
Status.
Based in the Boston area, Velotic has more than $300 million of revenue and serves customers across manufacturing, oil & gas, utilities, and infrastructure. Proficy, Kepware, and ThingWorx will remain as distinct product lines within the broader Velotic portfolio, now operating under one mission and platform.
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