PTC plans Servigistics acquisition
PTC plans to buy Servigistics.
PTC has revealed it intends to acquire Servigistics through a process that could involve contract negotiations between the enterprises.
The tie-up is scheduled to be completed in September 2012, following the satisfaction of a range of customary closing conditions and the approval of regulators.
PTC, which provides technology solutions to manufacturers, intends to pay around $220 million (£141 million) in cash for Servigistics and expects that the deal will boost its ability to give it clients a competitive edge.
Servigistics generated an estimated $80 million in revenue during the past 12 months, establishing itself as a global leading provider for Service Lifecycle Management (SLM) software solutions.
Acquiring it will substantially increase the number of SLM services within PTC's portfolio.
PTC president and chief executive officer Jim Heppelmann said: "Over the past few years, Servigistics has earned a reputation for innovation in helping companies maximize their global service businesses through increased profitability, cash flow and customer loyalty."
Posted by David Gleck
Source: PTC press release, August 8th