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Art Heidrich, left, partner at TPG, and Neil Barua, president and CEO of PTC [Photos: LinkedIn/PTC]
TPG To Acquire Boston-Based PTC’s Industrial Connectivity and IoT Businesses
by Lance Murray | Nov 6, 2025
Making the investments via TPG Capital, TPG is acquiring PTC's Kepware industrial connectivity and ThingWorx Internet of Things (IoT) businesses. TPG Partner Art Heidrich sees "a generational opportunity to evolve and progress manufacturing through solutions that bridge the gap between operational and information technology."
![Erica Kosemund, Chief Brand Officer, Choctaw Nation of Oklahoma; Gillian Breidenbach, Chief Partnership Officer, North Texas FWC Organizing Committee; Chief Gary Batton, Chief of Choctaw Nation of Oklahoma; Monica Paul, Executive Director of Dallas Sports Commission and President of North Texas FWC Organizing Committee; John Hobbs, Senior Executive Officer of Communications, Choctaw Nation of Oklahoma; and Heidi Grant, Senior Executive Officer of Commerce Administration, Choctaw Nation of Oklahoma, celebrate Choctaw Casinos & Resorts becoming an Official Dallas World Cup 2026 Host City Supporter. [Photo: North Texas FWC Organizing Committee/Choctaw Casinos & Resorts]](https://s24806.pcdn.co/wp-content/uploads/2025/12/FIFA-Choctaw-dec-2025.jpg)
