PTC to Pay US$220m for Servigistics
Parametric Technology Corp (PTC) has signed a definitive agreement to acquire Servigistics, developer of an innovative suite of service lifecycle management software solutions, for around US$220m in cash. The transaction is expected to be completed next month.
According to PTC, the acquisition will greatly improve its existing portfolio of service lifecycle management (SLM) solutions which, today, includes robust capabilities in the areas of warranty and contract management, service parts definition, and technical information, including mobile delivery. In combination, the solutions will dramatically speed up PTC’s ability to help discrete manufacturers transform their service strategies and operations into a true source of sustainable competitive edge, described by PTC as “service advantage”.
“Over the past few years, Servigistics has earned a reputation for innovation in helping companies maximise their global service businesses through increased profitability, cash flow, and customer loyalty,” said PTC president and chief executive officer (CEO) Jim Heppelmann.
“Their customers are at the leading edge of a global trend to take service from a cost centre to a profit centre, and SLM technology has been a critical driver. This acquisition should make clear just how serious PTC is about helping its customers achieve lasting service advantage.”