PTC Buys ColdLight to Extend IoT Reach

In the US, technology platform provider PTC has acquired big data machine learning and predictive analytics firm ColdLight for approximately $105m. PTC says the deal will enhance its position as a leader in the Internet of Things (IoT) market.

Founded in 2008, Wayne, PA-based ColdLight offers a proprietary technology called Neuron which allows data scientists and software developers to automate advanced and predictive analytics without having to manually code or build a data model. Neuron automatically analyzes data, detects patterns, builds statistically validated predictive models, and outputs information to a variety of formats.

ColdLight will now become PTC's core data analytics platform for companies in the manufacturing, healthcare, media and retail sectors. In addition, Neuron will be combined with PTC's ThingWorx IoT platform to enable the development of more advanced IoT apps.

Ryan Caplan (pictured), ColdLight CEO, comments: 'We share PTC's vision for the need to improve how data is captured, analyzed, understood and acted upon in order to help organizations drive more impactful IoT strategy. We believe all industries, but especially manufacturing, can benefit from a data analytics strategy in the Internet of Things era, and we are excited to pursue this broad set of opportunities with the resources and proven IoT technology portfolio that PTC provides.'

Web sites: www.ptc.com and www.coldlight.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.