In February 2011, long before “Internet of Things” became a hot buzzword, Safeguard Scientifics recognized potential in ThingWorx, the first application platform that lets designers build and run Internet of Things and Machine-to-Machine applications.

With Safeguard’s support, ThingWorx became a recognized leader in the nascent sector in less than three years. Safeguard’s ambitious and early entrée into the emerging market was rewarded in 2013 when PTC Inc. acquired ThingWorx for $112 million, plus an earn-out of up to $18 million, representing a 4x cash-on-cash return for Safeguard.

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