PTC Inc. has acquired ThingWorx Inc. for $112 million.

ThingWorx, headquartered in Exton, Pa., develops software that aims to help build and run applications for computers and mobile devices.

The target was partially owned by Safeguard Scientifics Inc. (NYSE: SFE), which could earn up to $6.5 million more on the deal depending on certain milestones. Safeguard owned 40 percent of ThingWorx and provided the company with $5 million in venture capital funding in 2011.

Needham, Mass.-based PTC is a technology company that provides lifecycle management, computer-aided design and supply chain management services to manufacturing companies. PTC expects the acquisition to help it support manufacturers that are looking to create and service technology products. The deal was announced on Dec. 30.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.