PTC, Rockwell Automation expand digital transformation pact

The duo has worked with 250 new customers so far on digital transformation projects.

Navy and PTC retire old systems, deploy digital twins

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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.

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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.