NEEDHAM, Mass. & SAN FRANCISCO--(BUSINESS WIRE)--PTC (NASDAQ: PTC) and OSIsoft today announced from the OSIsoft Users Conference in San Francisco their intention to integrate the ThingWorx® Industrial Internet of Things (IoT) Platform with the OSIsoft PI System to enable faster development of IoT solutions from connected data sources. As planned, the integration would allow customers using the OSIsoft PI System data infrastructure to easily incorporate capabilities from ThingWorx – including application enablement, machine learning, industrial connectivity, and augmented reality – and access to applications on the ThingWorx Marketplace™ to more rapidly advance IoT initiatives and enable customers to expand and accelerate their return on investment.
The OSIsoft PI System is an application-ready data infrastructure that collects and contextualizes operational and product data for real-time insight. Bringing PI System data into an Industrial IoT platform like ThingWorx enables customers to get more value from the data, such as by establishing predictive analytics models to prevent unplanned downtime with predictive maintenance, building Industrial IoT applications that deliver real-time operational intelligence, and enhancing workforce efficiency through new augmented reality experiences.
In addition to the planned technology integration, OSIsoft and PTC expect to identify and pursue joint customer opportunities in operational settings – discrete manufacturing, hybrid manufacturing, oil and gas, utilities, and process manufacturing.
“Fundamental to success in the Industrial IoT space is not only the ability to aggregate and contextualize business and operational data in real-time, but also to have capabilities that allow for action and insights off of that data,” said Howard Heppelmann, divisional general manager, connected operations solutions, PTC. “As planned, the collaboration between OSIsoft and PTC would combine the comprehensive Industrial IoT capabilities of ThingWorx with rich PI System data sources to enable faster realization of more robust and advanced Industrial IoT solutions.”
“In the fast-changing world of the Industrial IoT, it’s critical that we continue to offer our customers the latest capabilities for them to maintain a competitive advantage and recognize business value,” said Martin Otterson, senior vice president of customer success, OSIsoft. “As planned, layering the ThingWorx platform over the PI System Data Infrastructure would extend the value that our customers can realize from the PI System. The powerful capabilities, market reach, and Industrial IoT leadership position of PTC make it an ideal partner for OSIsoft in the Industrial IoT landscape.”
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.
About OSIsoft, LLC
OSIsoft is dedicated to helping people transform their world through data. Our PI System captures operational data from sensors, manufacturing equipment and other devices and turns it into rich, real-time insights to reduce costs, optimize production or make critical business decisions. The PI System can be found at work at offshore wind farms, oil refineries, mining sites, pharmaceutical facilities and control rooms around the world. More than 1.5 billion sensor-based data streams are managed by the PI System. Founded in 1980, OSIsoft has over 1,200 employees and is headquartered in San Leandro, California. For more, please visit www.osisoft.com.
Forward Looking Statements
Certain statements contained in this press release, including statements regarding the potential collaboration between PTC and OSIsoft, potential integrations and potential joint customer opportunities, constitute forward looking statements. There are a number of important factors that could cause results to differ materially from those described in this press release, including that PTC and OSIsoft may never enter into a formal binding agreement and that any collaboration may not result in viable commercial solutions.
PTC, ThingWorx, ThingWorx Marketplace, and the PTC logo are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.