Baker McKenzie advised PTC on the tax aspects of the divestiture of Kepware and ThingWorx businesses

PTC, a global Leader in Product Lifecycle Management Software, has completed the sale of its Kepware industrial connectivity and ThingWorx Internet of Things (IoT) businesses to TPG, a leading global alternative asset management firm.

Baker Mckenzie advised PTC on the tax aspects of this multi-jurisdictional divestiture, enabling the company to further advance its Intelligent Product Lifecycle vision: creating a unified product data foundation that connects design, engineering, and operations, and supports AI-driven transformation.

Co-led by Tax partner Margreet Nijhof, the core cross-border Baker McKenzie team included Megi Pengili, Narine Movisian, Ralph Potgieter, Jan Snel, Michelle van den Arend, Alejandro Zavala (Baker McKenzie Amsterdam), Sibel Owji and Lance Martin (Palo Alto), Lane Morgan (Dallas), Michelle Martinez and Ivan Tsios (Chicago), and Lavinia Santos Cueva (New York), supported by colleagues across the global Baker McKenzie network.

About PTC

PTCis a global software company that enables industrial and manufacturing companies to digitally transform how they engineer, manufacture, and service the physical products that the world relies on. Headquartered in Boston, Massachusetts, PTC employs over 7,000 people and supports more than 30,000 customers globally.

Further information is available on the company website:

PTC Completes Divestiture of Kepware and ThingWorx Businesses