11:47 AM EDT, 03/16/2026 (MT Newswires) -- PTC (PTC) said Monday it has completed the sale of its Kepware industrial connectivity unit and ThingWorx Internet of Things business to TPG (TPG) for $523 million in cash.

The company said it intends to use the roughly $375 million in net after-tax proceeds for an accelerated share repurchase agreement in Q2.

Accounting for the divestiture, PTC said it expects non-GAAP earnings per share of $1.87 to $2.47, compared with previous guidance of $1.93 to $2.54. Analysts polled by FactSet expect $2.18. Revenue for the fiscal quarter is now expected between $685 million and $745 million, compared with previous outlook of $710 million to $770 million. Analysts polled by FactSet expect $736.2 million.

Full-year non-GAAP EPS is now expected in the range of $6.36 to $8.84, compared with $6.69 to $9.15 previously. Analysts surveyed by FactSet expect $8.09. Revenue for the fiscal year is projected at $2.54 billion to $2.81 billion, compared with prior outlook of $2.68 billion to $2.94 billion. Analysts surveyed by FactSet expect $2.82 billion.

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