Rockwell Automation to make $1 billion investment in software maker PTC

Business Insider UK

Updated 11 June 2018 at 6:26 am

(Reuters) - U.S. factory automation equipment maker Rockwell Automation Inc said on Monday it would make a $1 billion equity investment in software maker PTC Inc.

Rockwell Automation's chairman and Chief Executive Officer Blake Moret will join PTC's board of directors effective with the closing of the deal within the next two months, the companies said.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)

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