ThingWorx Expands Leadership Team to Address Increased Demand for Internet of Things Platform in EMEA

EXTON, Pa. — (BUSINESS WIRE) — March 4, 2014ThingWorx™, a PTC (Nasdaq: PTC) business and leading Internet of Things (IoT) platform provider, today announced a new and expanded leadership team in Europe, the Middle East, and Africa (EMEA). The new ThingWorx team led by Thomas Svensson, Senior Vice President, EMEA and Larry Terwey, Vice President, EMEA will support the further expansion of ThingWorx and its partner ecosystem across the region to address increased demand for the innovative ThingWorx® IoT application platform.

Larry Terwey, Vice President, EMEA (Photo: Business Wire)

Larry Terwey, Vice President, EMEA (Photo: Business Wire)

The proliferation of smart, connected products, devices and sensors is creating an enormous demand for new Internet of Things applications. According to a recent research report Disruptive technologies: Advances that will transform life, business, and the global economy (May, 2013) from the McKinsey Global Institute, the Internet of Things has the potential to create economic impact of $2.7 trillion to $6.2 trillion annually by 2025. That value is expected to be unleashed across a wide range of industries, including manufacturing, health care, telecommunications, energy, agriculture, and transportation.

ThingWorx offers an innovative platform for rapidly developing and deploying applications that realize the opportunity and value presented by the Internet of Things economy. ThingWorx simplified and unified approach to IoT applications enables companies to iteratively innovate business processes significantly faster than conventional methods and tools, thus accelerating time to value, minimizing cost and risk, and transforming how products, people, and systems connect and interact.

“The ThingWorx business has seen strong demand and rapid growth across Europe. This demand, combined with the market reach and financial resources of PTC, is enabling ThingWorx to accelerate the build-out of our global footprint,” stated Russ Fadel, president, ThingWorx. “Thomas Svensson and Larry Terwey bring exceptional executive experience with their leadership roles; I am confident they will deliver on our EMEA strategy.”

As Senior Vice President, EMEA, Mr. Svensson will be responsible for driving the ThingWorx direct and indirect sales channel strategies and overall business development. Mr. Svensson holds a Master of Science degree from the Chalmers University of Technology in Gothenburg, Sweden, where he resides.

As Vice President, EMEA, Mr. Terwey will bring to bear his 20 years of experience building successful sales and marketing programs in the M2M and CAD / PLM markets.

About ThingWorx, a PTC Business

ThingWorx™, a PTC (Nasdaq: PTC) business, provides the first platform designed to efficiently build and run the applications of today’s connected world. ThingWorx’s model-based design and search-based intelligence simplifies application development efforts by minimizing cost, and risk while accelerating time to value. The ThingWorx platform combines the key functionality of Web 2.0, search, and social collaboration, and applies it to the world of “things”, including connected products, machines, sensors, systems, and industrial equipment. Businesses use the ThingWorx platform to rapidly deliver innovative applications and connected solutions across markets ranging from manufacturing, energy, and food, to Machine-to-Machine (M2M) remote monitoring and service, as well as in emerging Internet of Things applications, including smart cities, smart grid, agriculture, and transportation. For more information, please visit our website at www.thingworx.com and our blog at www.thingworx.com/blog or follow us on Twitter at @ThingWorx.

PTC, ThingWorx, and the ThingWorx logo and are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.



Contact:

ThingWorx
Stacey Schwind, 610-594-6200, ext 313
Email Contact
or
PTC
Corporate Communications
Beth Ambaruch, 952-435-5058
Email Contact




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