Companies to Focus on IoT Technologies ThingWorx and Predix
SAN FRANCISCO & NEEDHAM, Mass.--(BUSINESS WIRE)--PTC (NASDAQ: PTC) and GE Digital today announced from GE's Minds + Machines 2016 plans to expand their strategic alliance, first established in 2015, to bring integrated solutions to the Industrial Internet of Things (IIoT) market. Specifically, the companies will pursue a ‘ThingWorx for Predix' technology suite that will make it easier for joint customers to use ThingWorx to develop custom applications that run on Predix, GE's Industrial Internet operating system. Additionally, PTC intends to sell ThingWorx coupled with GE's Predix technology, and GE intends to sell ‘ThingWorx for Predix' together with Predix solutions that it offers to new and existing customers.
.@PTC and @GE_Digital plan to expand strategic alliance and bring integrated solutions to #IIoT market
The expansion of the collaboration between PTC and GE Digital is based on a shared vision for the Industrial Internet and defines the respective complementary roles of ThingWorx and Predix.
PTC's ThingWorx® application enablement tools allow for rapid drag-and-drop development of IoT solutions that readily incorporate industrial automation connectivity, machine learning and predictive analytics, remote service, and powerful augmented and virtual reality (AR/VR) experiences. GE's Predix provides an edge to cloud distributed operating system for the Industrial Internet, including edge management and analytics, cloud-based connectivity and asset management. The companies plan to leverage PTC technology as an easier means of development on Predix.
Working with GE, PTC plans to develop an optimized version of elements of its ThingWorx technology suite that would integrate tightly with Predix, making it possible for customers to enjoy the full power of ThingWorx with their Predix system. In turn, GE would deploy ‘ThingWorx for Predix' together with Predix for its own internal manufacturing and service processes. The collaboration will explore making the complete range of ThingWorx capabilities available in ‘ThingWorx for Predix,' including capabilities from PTC's ThingWorx, Kepware®, and Vuforia® solutions, enabling GE and its customers to accelerate the development and deployment of Predix-based solutions. ‘ThingWorx for Predix' would leverage the platform capabilities in Predix to store the underlying asset models and run analytics at scale.
PTC would pursue opportunities to sell joint offerings based on GE Digital's Brilliant Manufacturing Suite or use cases where ThingWorx is integrated with Predix. GE would sell ‘ThingWorx for Predix' IoT solutions to new and existing customers, with a focus on smart engineering, manufacturing, operations, and service.
"GE Digital is one of PTC's most forward thinking partners, and has been working closely with us to push the boundaries of what's possible with the convergence of the physical and digital worlds," said Jim Heppelmann, president and CEO, PTC. "The intended expansion of our collaboration is yet another great example of what our companies are capable of achieving together, and we will work to bring increased value not just to GE and PTC, but to our respective and mutual customers."
"Tools from ThingWorx with Predix the platform are two of the most powerful offerings across the entire Industrial IoT landscape. By bringing together their complementary capabilities in ThingWorx for Predix, GE aims to bring new levels of intelligence and efficiency to our internal manufacturing operations, as well as extend those benefits to our ever-growing customer base," said Jim Fowler, CIO, GE.
Harvard Business Review: "How Smart, Connected Products are Transforming Companies," authors PTC CEO Jim Heppelmann and Harvard Professor Michael Porter
About GE Digital
GE Digital connects streams of machine data to powerful analytics, providing Industrial companies with valuable insights to manage assets and operations more efficiently. World-class talent and software capabilities driving big gains in productivity, availability and longevity. For more information, visit the website at www.ge.com/digital.
About PTC (NASDAQ: PTC)
PTC has the most robust Internet of Things technology in the world. In 1986 we revolutionized digital 3D design, and in 1998 were first to market with Internet-based PLM. Now our leading IoT and AR platform and field-proven solutions bring together the physical and digital worlds to reinvent the way you create, operate, and service products. With PTC, global manufacturers and an ecosystem of partners and developers can capitalize on the promise of the IoT today and drive the future of innovation.