Exton, PA, June 28, 2011 ― ThingWorx™, a revolutionary platform designed to accelerate the development of applications connecting people, systems and physical world, today announced that it acquired Palantiri Systems, a visionary provider of the AlwaysOn™ software platform that enables intelligent machines to participate in a connected, collaborative world.  The combination of ThingWorx and Palantiri Systems creates a single company that represents the catalyst for the next stage of the “connected device” revolution.

“To date, companies wanting to take advantage of the tremendous value that lies in the ability tointeract with intelligent equipment have been confined to traditional M2M vendors, their ideas of how to model their equipment and processes, and where to deploy these critical business systems,” says Russ Fadel, CEO of ThingWorx. “ThingWorx’s acquisition of Palantiri Systems represents freedom for manufacturers and the end-users of intelligent equipment to quickly model an environment that reflects and adapts to their business. Together, the technology will help deploy the solution where it makes the most sense for the end-user: either in the cloud or within their own data center.”

This acquisition integrates Palantiri Systems’ AlwaysOn secure, real-time connectivity model and device collaboration solution with the ThingWorx platform, which extends the key functionality of Web 2.0, social media and the semantic web to the “world of things,” to create a platform that amplifies the productivity of people through collective intelligence and user-driven innovation.

“The worlds of Smart Business and the Internet of Things has been searching for a solution that understands the implications that awareness, collaboration, and collective intelligence will bring,” remarked Glen Allmendinger, President of Harbor Research, the leading research, consulting, and venture development company in Smart Business and the Internet of Things.  “The combination of Palantiri Systems’ real-time connectivity and collaboration platform with ThingWorx’s ability to capture, model, visualize and analyze equipment data, business processes and human interactions is an exciting development that could revolutionize the space.”

“We are extremely excited to become part of the ThingWorx family,” says John Canosa, CEO of Palantiri Systems. “Very rarely do you find two companies with a shared vision, and with completely complementary products and technologies. The ThingWorx team has solved an intractable problem: the simple, flexible modeling of devices of any kind without complex software development. When we combine the ThingWorx vision with our AlwaysOn platform, it truly is going to revolutionize the way companies create value with their connected device initiatives.”

ThingWorx will remain in its Exton, PA headquarters. Palantiri Systems’ offices in Rochester, NY will be branded ThingWorx and will serve as a second location for the growing company, with the potential for continued expansion in both regions. The Palantiri Systems’ team will be joining the ThingWorx team as the company continues to accelerate its growth.

About ThingWorx

ThingWorx™ is a privately held company that develops and markets the first application platform for the Connected World™. ThingWorx combines the key functionality of real-time data, mashups, search, social media and the semantic web, and applies it to any process that involves people, systems, devices and other real world “things.” ThingWorx is providing the disruptive change required to catalyze innovation and enable connected world applications, resulting in a step change in business performance. For more information contact us at www.thingworx.com or follow us on Twitter @ThingWorx.

About Palantiri Systems

Palantiri Systems provides the software that enables intelligent machines to participate in a connected world. Our AlwaysOn™ Product Suite allows machines and production equipment to communicate with each other and the people responsible for their continued operation. From one unified system, users, engineers, service technicians, managers, and machines become members of a virtual organization, a community that enables instantaneous worldwide communication between every member. Using web based displays, instant messaging, and real-time business system integration, Palantiri extends the equipment manufacturer’s reach in ways not possible before and enables them to offer innovative services to their customers that expand their competitive advantage.