On March 16, 2026, PTC Inc. (NASDAQ: PTC) announced the successful completion of its previously announced divestiture of the Kepware and ThingWorx businesses to TPG, a leading global alternative asset management firm. The transaction generated cash proceeds of $523 million, which reflects closing adjustments related to working capital and indebtedness. The net after-tax proceeds from the divestiture are expected to be approximately $375 million after accounting for divestiture-related costs and cash taxes. PTC plans to utilize these proceeds for share repurchases, announcing a $375 million accelerated share repurchase program to be executed in the second quarter of fiscal year 2026, with final settlement anticipated in the third quarter of fiscal year 2026.

The divestiture aligns with PTC's strategic focus on its Intelligent Product Lifecycle vision, allowing the company to concentrate on its core offerings while enhancing its operational efficiency. PTC's President and CEO, Neil Barua, expressed satisfaction with the completion of the divestiture, emphasizing the company's commitment to its long-term growth strategy. The company also updated its financial guidance for the second quarter and full fiscal year 2026 to reflect the impact of the divestiture. The updated guidance includes expectations for cash flow, revenue, and earnings per share, which will now exclude the contributions from the divested businesses.

PTC will host a conference call at 5:00 p.m. ET on the same day to discuss the divestiture and updated guidance, providing investors with further insights into the company's strategic direction and financial outlook. The call will be accessible via the Investor Relations page on PTC's website, where a replay will also be available for those unable to attend the live session.

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