Divested by PTC to TPG, completed 16 March 2026
Migrating from ThingWorx
What happened
PTC completed the divestiture of its Kepware and ThingWorx businesses to the private equity firm TPG on 16 March 2026, receiving $523 million in cash at closing.
PTC said it would use the proceeds for share repurchases, and both businesses now operate under TPG ownership rather than as part of PTC's product portfolio.
ThingWorx remains an established industrial IoT platform with a large installed base, particularly in manufacturing, and Kepware remains widely deployed for industrial connectivity.
Worth checking before you decide
- ThingWorx moved from being part of a larger product company to standing on its own under private-equity ownership. That often brings sharper commercial focus; it can also change pricing and packaging at renewal.
- If ThingWorx was previously bundled or discounted alongside other PTC products, confirm how it is licensed now that the businesses are separate.
- For deeply industrial deployments built on Kepware and ThingWorx together, continuity is the likeliest outcome and there may be no reason to move.
- For lighter monitoring and connected-product work that grew up inside a ThingWorx licence, this is a natural moment to check whether the platform still matches the size of the problem.
How ThingWorx concepts map to Qubitro
| ThingWorx | Qubitro | Notes |
|---|---|---|
| Thing | Device | — |
| Thing Template / Thing Shape | Device Template | Both define the shape a device takes on creation. |
| Property | Device data field | Decoded by the template's payload decoder. |
| Service | Function | Custom logic becomes a JavaScript function or JSONata expression. |
| Mashup | Dashboard | — |
| Alert | Rule and notification channel | — |
The migration, step by step
- 1
Scope honestly first
ThingWorx covers a lot of ground, including manufacturing-specific capability that Qubitro does not attempt. Separate what you actually use from what the licence includes before assuming a like-for-like move is possible.
- 2
Export historical property data
Get telemetry history out first. Devices, dashboards and logic can be rebuilt; history cannot.
- 3
Recreate devices from templates
Map Things to Qubitro devices. Where the underlying hardware is in the template library, the decoder and a starter dashboard come with it.
- 4
Re-express services as functions
ThingWorx services become Qubitro Functions in JavaScript, or JSONata expressions for pure reshaping. Treat this as a rewrite and an opportunity to drop logic that is no longer used.
- 5
Reconnect industrial sources
If data reaches ThingWorx through Kepware, decide whether that stays. Kepware can forward to Qubitro over MQTT, so industrial connectivity often remains in place while the application layer changes.
Common questions
- Is ThingWorx being discontinued?
- No. ThingWorx was sold, not shut down. It now operates under TPG ownership alongside Kepware rather than as part of PTC. Existing deployments continue to run.
- Can Qubitro replace ThingWorx?
- For device connectivity, time-series storage, dashboards, alerting and white-label delivery, yes. For deep manufacturing-specific capability — the parts of ThingWorx tied to PLM, CAD and industrial process modelling — no, and we would rather be clear about that up front than halfway through an evaluation.
- Do I have to replace Kepware as well?
- No. Kepware can publish to Qubitro over MQTT, so you can keep your existing industrial connectivity layer and change only the application and visualisation layer above it.
Migrations are easier to judge than to argue about. Connect one device on the free tier and see how much of your setup comes across before committing to anything.