ThingWorx Expands Leadership Team to Address Increased Global Demand for Internet of Things Platform
Exton, Pa. - May 19, 2014 - ThingWorxTM, a PTC (Nasdaq: PTC) business and leading Internet of Things (IoT) platform provider, today announced new and expanded sales leadership. Jason Dietrich, Senior Vice President, Global Sales and David Westrom, Senior Vice President, Global Business Development will lead further expansion of ThingWorx go-to-market activities to address increased demand for the innovative ThingWorx® IoT application platform.
According to a recent research report Disruptive technologies: Advances that will transform life, business, and the global economy (May, 2013) from the McKinsey Global Institute, the Internet of Things has the potential to create economic impact of $2.7 trillion to $6.2 trillion annually by 2025. The firm believes perhaps 80 to 100 percent of all manufacturing could be using Internet of Things applications by then, leading to potential economic impact of $900 billion to $2.3 trillion, largely from productivity gains. For example, with increasingly sophisticated Internet of Things technologies becoming available, companies can not only track the flow of products or keep track of physical assets, but they can also manage the performance of individual machines and systems.
ThingWorx offers an innovative platform for rapidly developing and deploying applications that realize the opportunity and value presented by the Internet of Things economy. ThingWorx's simplified and unified approach to IoT applications enables companies to iteratively innovate business processes significantly faster than conventional methods and tools, thus accelerating time to value, minimizing cost and risk, and transforming how products, people, and systems connect and interact.
"In response to strong demand and rapid growth in all markets we serve, driven in-part by the market reach and financial resources of PTC, we are accelerating the build-out of our global organization," stated Russ Fadel, president, ThingWorx. "Jason and Dave bring over 30 years of exceptional executive experience and leadership; I am confident they will execute our global strategy."
As Senior Vice President, ThingWorx Global Sales, Mr. Dietrich will be responsible for driving the ThingWorx direct sales channel strategies and execution worldwide. Mr. Dietrich holds a Master's degree in Business Administration (MBA) and a Bachelor of Science degree in Chemical Engineering from Lehigh University. Mr. Dietrich's prior experience includes executive roles at Invensys and CIMNET, where he had P&L responsibility.
Promoted from Vice President to Senior Vice President, ThingWorx Global Business Development, Mr. Westrom will be responsible for driving the ThingWorx indirect sales channel strategies and execution worldwide. Mr. Westrom holds a Bachelor of Science degree in Mechanical Engineering from the University of Maryland. Mr. Westrom's prior experience includes executive roles at LightHammer, SAP, and Invensys.
About ThingWorx, a PTC Business
ThingWorxTM, a PTC (Nasdaq: PTC) business, provides the first platform designed to efficiently build and run the applications of today's connected world. ThingWorx's model-based design and search-based intelligence simplifies application development efforts by minimizing cost and risk while accelerating time to value. The ThingWorx® platform combines the key functionality of Web 2.0, search, and social collaboration, and applies it to the world of "things", including connected products, machines, sensors, systems, and industrial equipment. Businesses use the ThingWorx platform to rapidly deliver innovative applications and connected solutions across markets ranging from manufacturing, energy, and food, to Machine-to-Machine (M2M) remote monitoring and service, as well as in emerging Internet of Things applications, including smart cities, smart grid, agriculture, and transportation. For more information, please visit our website at www.thingworx.com and our blog at www.thingworx.com/blog or follow us on Twitter at @ThingWorx.
PTC, ThingWorx, and the ThingWorx logo and are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.