PTC to buy ColdLight in $105 mn deal

PTC will acquire ColdLight, a provider of big data machine learning and predictive analytics, for approximately $105 million.

The purpose of the acquisition of ColdLight’s Neuron automated predictive analytics platform is to enrich PTC’s technology portfolio and extend PTC’s position in the Internet of Things (IoT) market.

ColdLight will serve as PTC’s core data analytics platform to deliver new value to markets as well as drive growth across new markets.

As a part of the acquisition, ColdLight’s Neuron will combine with PTC’s ThingWorx IoT platform to automate the analysis of data from things to address a range of important challenges.

The challenges include detecting failure patterns from data, modeling correlations, predicting failures, prescribing remedies and prioritizing recommendations against cost constraints.

ColdLight’s Neuron platform in order to address the challenges will use artificial intelligence and machine learning technology to automatically and continuously learn from data, discover patterns, build validated predictive models and send information to virtually any type of application or technology.

The company can rapidly develop more advanced IoT applications that leverage Neuron’s machine learning capabilities with the combination of Neuron and the ThingWorx IoT platform.

ThingWorx helps to reduce time, cost and risk associated with IoT applications while ColdLight helps to reduce time, cost and risk associated with advanced and predictive analytics.

Also, ColdLight will embrace both in-house and partner-based solutions to provide PTC’s customers with a wide range of choices to maximize business value across the analytics market.

ColdLight platform will also help to speed the creation of advanced and predictive analytics applications to support manufacturers’ service strategies.

In August, PTC acquired Axeda Corporation to accelerate PTC’s ability to deliver best-in-class solutions to its customers in the Internet of Things era.

Shilpa Khatri
[email protected]

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