PTC Inc. closed the divestiture of its Kepware industrial connectivity and ThingWorx IoT businesses to an affiliate of TPG on March 16, 2026, receiving $523 million in cash proceeds after closing adjustments. PTC updated Q2'26 and FY'26 guidance excluding these businesses, plans a $375 million accelerated share repurchase using net after-tax proceeds, and expects total FY'26 repurchases of $1.125 billion to $1.325 billion.
Key takeaways
Divestiture closed March 16, 2026 to TPG affiliate for $523M cash proceeds after $42M working capital and indebtedness adjustments.
Net after-tax proceeds ~$375M after ~$40M divestiture costs and ~$110M cash taxes.
$375M accelerated share repurchase agreement in Q2'26 with Q3'26 settlement.