Velotic merges former GE Vernova, Kepware, and PTC ThingWorx businesses to deliver new levels of manufacturing efficiency, productivity, and data visibility powered by AI.
Industrial software veteran Brian Shepherd named CEO; former PTC CEO James Heppelmann named Executive Chairman
BOSTON — (BUSINESS WIRE) — Velotic™ announced its debut as a leading independent industrial software company, uniting several proven platforms to usher in a new era of industrial and manufacturing technology. The formation of Velotic coincides with the completion of TPG's previously announced acquisitions of Proficy (the former manufacturing software division of GE Vernova) and PTC's former industrial connectivity and Internet of Things (IoT) businesses. Backed by TPG, Velotic offers a suite of best-in-class data-driven solutions focused on optimizing processes through improved efficiencies, increased productivity, and visibility into complex data and industrial operations.
Velotic was designed to meet the productivity and data management needs of global manufacturers, with a focus on developing next-generation industrial software solutions powered by AI. By integrating Proficy's expertise in automation and manufacturing management with Kepware's leadership in industrial connectivity and ThingWorx's data analytics applications, Velotic will provide customers with greater visibility, unprecedented insights, and the robust analytics and AI capabilities needed to produce and compete in today's complex manufacturing landscape.
Brian Shepherd, an industrial software veteran, will serve as CEO of Velotic, bringing more than 25 years of leadership experience and expertise in manufacturing technologies from companies such as Rockwell Automation, Hexagon Manufacturing Intelligence, and PTC. James Heppelmann, former President and CEO of PTC, will serve as the company's Executive Chairman.
“Today marks the beginning of an exciting new chapter for our industry, our partners, and the customers we serve,” said Brian Shepherd, CEO of Velotic. “The manufacturing industry is transforming, as leading global players seek to support their workforces with dedicated technologies that improve operations, strengthen production, and drive growth by leveraging AI-based solutions. Velotic was born for this moment: to power the future of manufacturing technology and solve manufacturers’ most pressing technology challenges. With experienced teams and proven platforms under one roof, I’m excited about the future of our new organization and look forward to accelerating our speed together.”
“Velotic’s solutions have independently guided our clients’ organizations for over a decade. Now, together as one unified company, Velotic will be able to strengthen and expand its portfolio to deliver next-generation solutions that improve business outcomes,” said James Heppelmann, Executive Chairman of Velotic. “Under Brian’s expert leadership and with the support of TPG, Velotic will be even better positioned to solve the challenges manufacturers face today and tomorrow; I look forward to supporting these mission-critical needs in this next chapter.”
“There is a growing need to bring AI to operational technology (OT), and Velotic has the capabilities and credibility to accelerate the ongoing technological evolution in industrial and manufacturing operations,” said Art Heidrich, Partner at TPG. “Velotic brings together a suite of trusted platforms that clients rely on to manage and improve their businesses. We are excited to partner with Brian, James, and the entire Velotic team to invest in innovation that unlocks new value for clients.”
Velotic is a leading independent industrial software company providing a flexible, hardware-agnostic, AI-focused platform suite to clients worldwide. Headquartered in the Boston area, Velotic has over $300 million in revenue and serves clients in manufacturing, oil and gas, utilities, and infrastructure. Proficy, Kepware, and ThingWorx will remain distinct product lines within the broader Velotic portfolio, moving forward operating under a single mission and platform.
About Velotic™
Velotic™ is a leading independent industrial software company providing data-driven solutions to improve manufacturing efficiency, productivity, and operational insights. Serving clients in the manufacturing, oil & gas, utilities, and infrastructure sectors, the company generates over $300 million in revenue. Velotic's portfolio, anchored by Proficy, Kepware, and ThingWorx, supports the growing data and performance requirements of industrial operators globally, with a particular focus on AI-enabled industrial and manufacturing software. Learn more: www.velotic.com.
About TPG
TPG is a leading global alternative asset manager, founded in San Francisco in 1992, with $303 billion in assets under management and investment and operating teams worldwide. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and marketplace solutions; our distinctive strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and industry expertise with broad capabilities and expertise to develop differentiated insights and add value for our investors, portfolio companies, management teams, and communities.