Infotech Lead America: PTC is set to buy Servigistics, a developer of service lifecycle management (SLM) software solutions, for approximately $220 million in cash.
The proposed acquisition will enhance PTC’s existing portfolio of SLM solutions.
PTC’s SLM solutions include warranty and contract management, service parts definition, and technical information including mobile delivery.
Servigistics’s solutions will significantly accelerate PTC’s ability to help discrete manufacturers transform their service strategies and operations into a source of sustainable competitive edge.
PTC president and CEO 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.
SLM helps manufacturers and their service network partners optimize the customer experience by ensuring service is systemically planned, delivered, and analyzed to continually improve performance and maximize customer value.
Starting with the acquisition of Arbortext in 2005, PTC has been developing solutions that enable manufacturers to plan and analyze service based on how their products are designed and built.
This service-focused strategy has driven PTC to deliver specialized solutions.
By buying Servigistics, PTC will be able to deliver a complete system for service.
Eric Hinkle, Servigistics president and CEO, said its clients will reap great benefits from the synergies of this shared vision.
Over the past 12 months, privately-held Servigistics generated approximately $80 million in revenue.