PTC Completes $523M Sale of Kepware & ThingWorx, Raises FY2026 Cash Flow

AI Summary

PTC has completed the sale of its Kepware and ThingWorx businesses for $523 million, resulting in net after-tax proceeds of $375 million and a gain of $464 million. The company raised its fiscal 2026 free cash flow guidance to $850 million, despite an anticipated cash flow headwind of approximately $70 million in FY27 due to a transition services agreement with TPG. PTC plans to allocate $1.125 to $1.225 billion for share repurchases. This divestiture allows PTC to focus more on its intelligent product lifecycle vision.