Press Release June 11, 2018

PTC Forms Strategic Partnership with Rockwell Automation and Receives $1 Billion Equity Investment

Goodwin represented PTC (NASDAQ: PTC) in its definitive agreement to form a strategic partnership with Rockwell Automation, Inc. (NYSE: ROK). Under the terms of the agreement, Rockwell will make a $1 billion equity investment in PTC by acquiring 10,582,010 shares at a price of $94.50, representing an approximate 8.4% pro forma ownership interest in PTC based on PTC’s current outstanding shares. As part of the partnership, the companies will align their respective smart factory technologies, combining PTC's ThingWorx internet of things, Kepware industrial connectivity and Vuforia augmented reality platforms with Rockwell's FactoryTalk MES, FactoryTalk analytics and industrial automation platforms.

Also as part of the partnership, Rockwell chairman and CEO, Blake Moret, will join PTC’s board of directors, effective with the closing of the equity transaction. The investment transaction is subject to customary closing conditions and regulatory approvals, and is expected to close within 60 days.

PTC helps companies around the world reinvent the way they design, manufacture, operate, and service products in and for a smart, connected world.

The cross-disciplinary Goodwin team was led by partners Stuart CableStephen CharkoudianRobert Whalen and Lisa Haddad with assistance from partners Andrea MurinoPaul JinMichael PatroneJames Matarese and Adam Small, counsels Kirby Lewis and Todd Hahn, and associates Peter HartAaron ChanChristopher Versfelt and Yasin Akbari.

For additional details on the partnership, please read the press release.