diff --git a/MAINTAINERS.yml b/MAINTAINERS.yml
index 3dd26f34b23..f934d8df55f 100644
--- a/MAINTAINERS.yml
+++ b/MAINTAINERS.yml
@@ -3377,6 +3377,16 @@ West:
   labels:
     - "area: OpenThread"
 
+"West project: percepio":
+  status: maintained
+  maintainers:
+    - eriktamlin
+    - aronlander-pe
+  files:
+    - modules/percepio/
+  labels:
+    - "area: Tracing"
+
 "West project: picolibc":
   status: maintained
   maintainers:
@@ -3441,15 +3451,6 @@ West:
   labels:
     - "area: Crypto / RNG"
 
-"West project: TraceRecorderSource":
-  status: maintained
-  maintainers:
-    - eriktamlin
-  files:
-    - modules/TraceRecorder/
-  labels:
-    - "area: Tracing"
-
 "West project: trusted-firmware-m":
   status: maintained
   maintainers:
diff --git a/modules/TraceRecorder/CMakeLists.txt b/modules/percepio/CMakeLists.txt
similarity index 63%
rename from modules/TraceRecorder/CMakeLists.txt
rename to modules/percepio/CMakeLists.txt
index a0b4d6ad671..49de379e7f9 100644
--- a/modules/TraceRecorder/CMakeLists.txt
+++ b/modules/percepio/CMakeLists.txt
@@ -2,11 +2,14 @@
 #
 # SPDX-License-Identifier: Apache-2.0
 
+if (CONFIG_PERCEPIO_TRACERECORDER OR CONFIG_PERCEPIO_DFM)
+  zephyr_library()
+endif()
+
 if(CONFIG_PERCEPIO_TRACERECORDER)
 
-  set(TRACERECORDER_DIR ${ZEPHYR_CURRENT_MODULE_DIR})
+  set(TRACERECORDER_DIR ${ZEPHYR_CURRENT_MODULE_DIR}/TraceRecorder)
 
-  zephyr_library()
   zephyr_library_sources_ifdef(
     CONFIG_PERCEPIO_TRACERECORDER
     ${TRACERECORDER_DIR}/kernelports/Zephyr/trcKernelPort.c
@@ -81,6 +84,7 @@ if(CONFIG_PERCEPIO_TRACERECORDER)
     )
   endif()
 
+
   zephyr_include_directories(
     ${TRACERECORDER_DIR}/kernelports/Zephyr/include
     ${TRACERECORDER_DIR}/kernelports/Zephyr/config
@@ -88,8 +92,72 @@ if(CONFIG_PERCEPIO_TRACERECORDER)
     ${TRACERECORDER_DIR}/include
     )
 
-    set_property(GLOBAL APPEND PROPERTY extra_post_build_commands
+  set_property(GLOBAL APPEND PROPERTY extra_post_build_commands
       COMMAND python3 ${TRACERECORDER_DIR}/kernelports/Zephyr/scripts/tz_parse_syscalls.py ${CMAKE_BINARY_DIR} ${ZEPHYR_BASE}
     )
 
 endif()
+
+if(CONFIG_PERCEPIO_DFM)
+
+  set(DFM_DIR ${ZEPHYR_CURRENT_MODULE_DIR}/DFM)
+
+  zephyr_library_sources_ifdef(
+    CONFIG_PERCEPIO_DFM
+    ${DFM_DIR}/dfm.c
+    ${DFM_DIR}/dfmAlert.c
+    ${DFM_DIR}/dfmCloud.c
+    ${DFM_DIR}/dfmEntry.c
+    ${DFM_DIR}/dfmSession.c
+    ${DFM_DIR}/dfmStorage.c
+    ${DFM_DIR}/kernelports/Zephyr/dfmKernelPort.c
+    )
+
+  if(CONFIG_PERCEPIO_DFM_CFG_STORAGEPORT_NONE)
+    zephyr_library_sources(
+      ${DFM_DIR}/storageports/Dummy/dfmStoragePort.c
+    )
+
+    zephyr_include_directories(
+      ${DFM_DIR}/storageports/Dummy/include/
+    )
+  endif()
+
+  if(CONFIG_PERCEPIO_DFM_CFG_STORAGEPORT_FLASH)
+    zephyr_library_sources(
+      ${DFM_DIR}/kernelports/Zephyr/storageports/Flash/dfmStoragePort.c
+    )
+
+    zephyr_include_directories(
+      ${DFM_DIR}/kernelports/Zephyr/storageports/Flash/include/
+    )
+  endif()
+
+  if(CONFIG_PERCEPIO_DFM_CFG_CLOUDPORT_NONE)
+    zephyr_library_sources(
+      ${DFM_DIR}/cloudports/Dummy/dfmCloudPort.c
+    )
+
+    zephyr_include_directories(
+      ${DFM_DIR}/cloudports/Dummy/include/
+    )
+  endif()
+
+  if(CONFIG_PERCEPIO_DFM_CFG_CLOUDPORT_SERIAL)
+    zephyr_library_sources(
+      ${DFM_DIR}/kernelports/Zephyr/cloudports/Serial/dfmCloudPort.c
+    )
+
+    zephyr_include_directories(
+      ${DFM_DIR}/kernelports/Zephyr/cloudports/Serial/config/
+      ${DFM_DIR}/kernelports/Zephyr/cloudports/Serial/include/
+    )
+  endif()
+
+  zephyr_include_directories(
+    ${DFM_DIR}/kernelports/Zephyr/config
+    ${DFM_DIR}/kernelports/Zephyr/include
+    ${DFM_DIR}/include
+    )
+
+endif()
diff --git a/modules/TraceRecorder/Kconfig b/modules/percepio/Kconfig
similarity index 54%
rename from modules/TraceRecorder/Kconfig
rename to modules/percepio/Kconfig
index 2ab8ebd4e80..7e2546016db 100644
--- a/modules/TraceRecorder/Kconfig
+++ b/modules/percepio/Kconfig
@@ -1,10 +1,10 @@
-# Zephyr module config for TraceRecorder.
+# Zephyr module config for percepio.
 # The real Kconfig for the module is located in the module repository,
-# this file is to ensure ZEPHYR_TRACERECORDER_MODULE is defined also when the
+# this file is to ensure ZEPHYR_PERCEPIO_MODULE is defined also when the
 # module is unavailable.
 
 # Copyright (c) 2021 Nordic Semiconductor ASA
 # SPDX-License-Identifier: Apache-2.0
 
-config ZEPHYR_TRACERECORDER_MODULE
+config ZEPHYR_PERCEPIO_MODULE
 	bool
diff --git a/subsys/tracing/Kconfig b/subsys/tracing/Kconfig
index 31d1637cd60..d7aa7b12e44 100644
--- a/subsys/tracing/Kconfig
+++ b/subsys/tracing/Kconfig
@@ -37,7 +37,7 @@ config PERCEPIO_TRACERECORDER
 	select THREAD_NAME
 	select INIT_STACKS
 	select THREAD_MONITOR
-	depends on ZEPHYR_TRACERECORDER_MODULE
+	depends on ZEPHYR_PERCEPIO_MODULE
 
 config SEGGER_SYSTEMVIEW
 	bool "Segger SystemView support"
diff --git a/west.yml b/west.yml
index 3d76e4dc6a3..1091ef024a7 100644
--- a/west.yml
+++ b/west.yml
@@ -305,6 +305,11 @@ manifest:
     - name: openthread
       revision: f7690fe7e9d638341921808cba6a3e695ec0131e
       path: modules/lib/openthread
+    - name: percepio
+      path: modules/debug/percepio
+      revision: 831f421994b67856970f131295d1a97ca9d1f086
+      groups:
+        - debug
     - name: picolibc
       path: modules/lib/picolibc
       revision: d07c38ff051386f8e09a143ea0a6c1d6d66dd1d8
@@ -325,11 +330,6 @@ manifest:
       path: modules/crypto/tinycrypt
       groups:
         - crypto
-    - name: TraceRecorderSource
-      revision: 1ede7ce8e7ab226e9a84d95266241ba3f38d91d2
-      path: modules/debug/TraceRecorder
-      groups:
-        - debug
     - name: trusted-firmware-m
       revision: b168d92c7ed3c77c94d7ce3362bdde5dbffe8424
       path: modules/tee/tf-m/trusted-firmware-m