Velotic announced its launch as an independent industrial software company, bringing together multiple established platforms to support evolving industrial and manufacturing requirements. The formation of Velotic coincides with the closing of TPG’s previously announced acquisitions of Proficy, the former manufacturing software business of GE Vernova, and PTC’s former industrial connectivity and Internet of Things (IoT) businesses.
Backed by TPG, Velotic provides a suite of data-driven solutions designed to help improve operational efficiency, enhance productivity, and increase visibility across complex industrial environments. The combined portfolio integrates Proficy’s automation and production management capabilities, Kepware’s industrial connectivity technologies, and ThingWorx’s industrial data and analytics applications.
According to Craig Resnick, Vice President, ARC Advisory Group, “The industrial software market is entering a pivotal moment. Manufacturers are under pressure to modernize operations, extract greater value from data, and rapidly adopt AI—without sacrificing reliability, safety, or control. Against this backdrop, the formation of Velotic as a new standalone industrial software company bringing together Proficy®, Kepware® and ThingWorx® represents more than a corporate restructuring. It signals a shift in how industrial data, analytics, and operations technology (OT) can be delivered at scale, that ARC strongly advocates.”
Velotic is positioned to help address increasing demand for integrated, AI-enabled industrial software by combining established technologies into a unified offering. The company focuses on helping to enable manufacturers to manage data more effectively and support operational decision-making across distributed environments.
Manufacturing software executive Brian Shepherd has been appointed CEO of Velotic. He brings over 25 years of experience in manufacturing technology, including leadership roles at Rockwell Automation, Hexagon Manufacturing Intelligence, and PTC. James Heppelmann, former Chairman and CEO of PTC, has been named Executive Chairman.
Velotic operates as a hardware-agnostic platform provider with a focus on flexibility and interoperability. Proficy, Kepware, and ThingWorx will continue as distinct product lines within the broader portfolio. The company is headquartered in the Boston area and reports more than $300 million in revenue, serving customers across manufacturing, oil and gas, utilities, and infrastructure sectors.
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