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PTC to acquire ServiceMax for $1.46B

By Sudarshana Banerjee

PTC has signed a definitive agreement to acquire ServiceMax for $1.46 billion from Silver Lake. The transaction, subject to regulatory approval and other closing conditions, is expected to close in early January 2023. 

“The addition of ServiceMax will realize a key part of PTC’s closed-loop PLM strategy,” said Jim Heppelmann, President and CEO, PTC. “The PLM capabilities PTC has long offered to engineering and manufacturing departments provide the system of record for the digital definition of any product configuration. ServiceMax will complement this by providing the system of record for monitoring and servicing product instances after they leave the factory and move into customer use.”

ServiceMax provides a suite of cloud-native FSM capabilities built on the Salesforce platform. PTC and ServiceMax have been collaborating since 2015.

[Image courtesy: ServiceMax]

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