PTC, Rockwell Automation expand digital transformation pact

Special feature

The Rise of Industrial IoT

Infrastructure around the world is being linked together via sensors, machine learning and analytics. We examine the rise of the digital twin, the new leaders in industrial IoT (IIoT) and case studies that highlight the lessons learned from production IIoT deployments.

Read now

PTC and Rockwell Automation have expanded a digital transformation strategic partnership.

The duo, which has worked with 250 new customers so far, has expanded the alliance to include PTC's software as a service and product lifecycle management products. The agreement between the companies runs through 2023 and beyond.

In addition, PTC will offer Rockwell Automation's virtual machinery simulation and testing software to its customer and partner network.

The initial offering is the FactoryTalk InnovationSuite powered by PTC, which is an industrial Internet of things package that includes analytics, augmented reality and manufacturing systems.

• PTC to acquire Onshape for its SaaS product development platform

Separately, PTC reported fourth quarter results. The company reported fourth quarter revenue of $391 million with net income of $53.4 million, or 46 cents a share.

For fiscal 2020, PTC reported revenue of $1.25 billion with net income of $130.7 million, or $1.12 a share.

As for the outlook, PTC is projecting revenue of $1.55 billion to $1.6 billion with non-GAAP earnings $2.65 a share to $2.85.