Velotic
Velotic is an American industrial Software company formed in 2026 after private-equity firm TPG combined the former GE Vernova Proficy business with PTC Inc.'s former Kepware and ThingWorx businesses. The company is based in the Boston area, Massachusetts.
History
In September 2025, GE Vernova agreed to sell its Proficy industrial software business to TPG for .
In November 2025, PTC and TPG announced an agreement for TPG to acquire PTC's Kepware and ThingWorx businesses. On March 16, 2026, PTC said it had completed the sale and received in cash proceeds upon closing, reflecting closing adjustments related to working capital and indebtedness.
Velotic launched on March 17, 2026, following the closing of TPG's acquisitions of Proficy and PTC's former industrial connectivity and Internet of Things businesses. At launch, Brian Shepherd was named chief executive officer and former PTC chief executive James Heppelmann was named executive chairman.
Products
At launch, Velotic said its portfolio consisted of three product families which continued to operate under their existing brand names.
Proficy
Proficy is a manufacturing software portfolio that originated within General Electric and later operated under GE Vernova. GE Vernova has described the portfolio as including HMI/SCADA systems, manufacturing execution systems (MES), industrial data management, and analytics software offered in cloud-based and on-premises deployments.
Kepware
Kepware is an industrial connectivity software business. In 2015, PTC Inc. agreed to acquire Kepware for approximately , plus up to an additional tied to performance targets. At the time, PTC described Kepware as Providing communications connectivity to industrial automation environments, with customers in industries including manufacturing, oil and gas, building automation, and utilities.
ThingWorx
ThingWorx is an industrial Internet of Things software platform. In 2013, PTC acquired ThingWorx for approximately , plus a possible earn-out of up to . PTC described ThingWorx at the time as a platform for building and running Internet of Things applications.