Update March 24, 2026: The official name is now Velotic; earlier versions of this article noted that no official name had been announced.
If you’ve known Rain Engineering (ENG) for a while, you know us as the Proficy people.
We were building and supporting Proficy MES, HMI/SCADA, and historian projects back when it was still finding its place inside GE. We’ve ridden every version, every re-org, every roadmap pivot. We’ve sat in the war rooms, coached plants through ugly cutovers, and seen what happens when manufacturers get this platform right.
Today, that story got a whole lot bigger.
PTC officially closed the sale of Kepware and ThingWorx to TPG, the same TPG that just closed the $600M Proficy deal two weeks ago. As of right now, Proficy, Kepware, and ThingWorx all sit under the same private equity roof.
The official umbrella brand name is Velotic. And as the legacy Proficy team at Rain Engineering, we’re more excited about this moment than any time in our history.
Let me explain why.
What Just Happened (In Plain Language)
Over the last seven months, TPG has quietly put together a serious industrial software stack:
- Irth Solutions – infrastructure and utility work management and risk software, acquired from Blackstone in 2025, serving 20,000+ daily users.
- Proficy – MES, HMI/SCADA, data management and analytics, acquired from GE Vernova for $600M, deal closed March 2, 2026.
- Kepware + ThingWorx – industrial connectivity and IIoT platform, divested by PTC, deal closed today with $523M in cash consideration.
Analysts like ARC and Verdantix are already calling this a “formidable industrial software portfolio” that spans connectivity (Kepware), plant operations (Proficy), and IoT/analytics (ThingWorx).
And here’s the important part for you as a manufacturer:
- The products keep their own names for now, Proficy, Kepware, and ThingWorx remain familiar brands.
- The announced combined company brand is Velotic, and it’s still early in the integration story.
This is the window where strategy matters most.
Why This Is Personal for the Proficy Team at Rain Engineering
For our team, this isn’t just news on a wire, it’s the world we’ve lived in for years.
Our engineers cut their teeth integrating:
- Kepware as the PLC and device gateway feeding Proficy Historian and MES
- ThingWorx as a visualization layer or analytics front end for Proficy data
- Proficy at the heart of plant operations, orchestrating production, quality, and traceability
We’ve been stitching these tools together in the field long before they shared an owner.
TPG is now doing at the portfolio level what we’ve already been doing at the plant level:
pulling connectivity, operations, and IoT analytics into a unified stack.
That’s why we’re excited. It means the kinds of architectures we’ve been advocating for years now have serious capital and executive attention behind them.
What TPG Is Actually Building (And Why It Matters)
If you zoom out, the strategy looks like this:
- Layer 2 – Connectivity: Kepware as the “universal translator” for PLCs and industrial devices.
- Layer 3–4 – Operations: Proficy MES, HMI/SCADA, and historian to run the plant.
- Layer 4–5 – IoT & Apps: ThingWorx as the application and analytics platform on top of operational data.
Verdantix summed it up: TPG is “bulking up its industrial software arsenal” to give manufacturers flexible, integrated platforms built on widely adopted products.
For manufacturers who have:
- Proficy in one plant
- Kepware scattered across lines
- A pilot ThingWorx app somewhere in engineering
…this portfolio move is not a threat. It’s your chance to turn scattered tools into a coherent operating architecture.
Velotic Announced As New Brand Name
Everyone was waiting to see what TPG will call the combined business. When they announced Velotic as the official name. See our full YouTube video for our reaction when the announcement was made.
So far:
- Proficy communications still reference Proficy as an independent software business carved out of GE Vernova.
- PTC’s releases focus on completing the divestiture and its own sharpened strategy, not on any new TPG brand.
- Coverage from ARC, Verdantix, and others talks about the portfolio, not a named platform.
If you remember how TPG later rebranded Thycotic + Centrify into Delinea, you know they tend to let the integration work start asap.
For you, that means:
- No sudden rip-and-replace
- No forced migrations today
- Time to intentionally design how Proficy, Kepware, and ThingWorx should work together in your world
That design step is exactly where a team like ours earns its keep.
What This Means for Existing Proficy, Kepware, and ThingWorx Users
Here’s the practical view from the plant floor.
In the Next 12 Months, Expect “Business as Usual”, With More Investment
Most carve-outs like this follow a pattern analysts have already called out:
- Same core product teams and support contacts stay in place.
- Roadmaps continue, but with more capital behind them.
- The first visible changes happen in SaaS offerings, integrations, and pricing models, not in core functionality.
ARC and others point out that combining these products “provides manufacturers and OEMs with the flexibility to create integrated platforms built on proven solutions with large installed bases.”
In other words:
Your Proficy, Kepware, and ThingWorx investments are not obsolete, they’re now part of a bigger story.
The Real Change Is Architectural
The bigger implications are architectural, not transactional:
- More pressure toward SaaS and subscription across the stack.
- Deeper default integrations between Proficy, Kepware, and ThingWorx.
- A likely push toward standardized patterns for OT/IT convergence, including UNS-style models and enterprise connectivity.
For manufacturers, that’s not something to fear. It’s something to shape, if you have the right guide.
Where Rain Engineering Fits In This New World
We’re coming into this moment with three big advantages.
1. We’re the Proficy People, And More
Our legacy is deep Proficy expertise:
- MES, HMI/SCADA, Historian
- Complex multi-plant deployments
- “Save the project” engagements when implementations stall
But for years, we’ve also been working with:
- Kepware as the connectivity layer into Proficy and UNS architectures
- ThingWorx in brownfield IoT and visualization scenarios
That means we don’t just know the products, we know how they behave together under real production pressure.
2. We Live in the Integration Layer
Analysts keep using phrases like “OT/IT convergence” and “integrated platform strategies.”
In practice, that means:
- Getting data from PLCs through Kepware into historians, MES, and UNS
- Feeding that same data into IoT and analytics platforms without building one-off spaghetti integrations
- Doing it in a way your maintenance team can live with at 3 a.m.
That’s where we spend our time. We’re not just configuring screens; we’re designing how these tools talk to each other across your entire manufacturing stack.
3. We’re Pragmatic About The Ownership Shift
We’ve watched TPG and other firms do these carveouts before, from Boomi to Delinea and beyond.
That experience tells us to help you:
- Take advantage of new investments and capabilities
- Prepare for licensing and SaaS transitions thoughtfully
- Avoid chasing every new feature just because it has fresh branding
Our goal is simple: turn this portfolio shift into real operational gains on your lines, not just a new logo on your slide decks.
How to Use This Moment to Your Advantage
Here’s how we’re advising manufacturers who run (or are considering) Proficy, Kepware, or ThingWorx.
1. Map What You Already Own
Before you react to any future branding or bundles, get clear on your current landscape:
- Where is Proficy running today?
- Where is Kepware hiding in your plants?
- Are there any ThingWorx pilots or legacy apps still in use?
Most organizations are surprised by how much they already have in place. That’s your starting point.
2. Decide What Role Each Product Should Play
Instead of waiting for a top-down “platform story,” define yours:
- Kepware as your standard connectivity gateway
- Proficy as your operations backbone
- ThingWorx (or alternatives) as your app and analytics layer
We help teams make these decisions with their business goals in mind: throughput, quality, traceability, and workforce augmentation, not just technology for technology’s sake.
3. Design a Future-Ready Architecture
Using that picture, we work with clients to:
- Align around UNS-friendly patterns and standard data models
- Define where you’ll adopt SaaS vs. keep workloads on-prem
- Build a roadmap that can flex as TPG reveals more of its integration plan
This is where the legacy Proficy experience at ENG really shows up, we’ve seen what works, what breaks, and what scales.
From the Legacy Proficy Team, to You
As the folks who’ve been in Proficy trenches for years, here’s how this moment feels from our side:
- We’re excited, not nervous.
- We see TPG’s moves as validation that the stack we’ve been betting on, connectivity + MES + IoT, is exactly where manufacturing is heading.
- We’re ready to help manufacturers turn that validation into real competitive advantage on the plant floor.
If you’re running Proficy, Kepware, ThingWorx, or all three, this isn’t the time to sit back and wait for how a name-change shift to Velotic will impact you.
It’s the time to ask:
“How do we use this combined portfolio to build the architecture we’ve wanted all along?”
That’s the work we love doing.
Rain Engineering isn’t just your Proficy implementation partner anymore, we’re your guide to making sense of TPG’s new industrial stack and turning it into real results in your plants.
Want to talk about what this means for your environment?
Phone: (833) 972-4626
Web: raineng.com
