What is PTC announcing today?
PTC announced that it has signed a definitive agreement to acquire ServiceMax for $1.46 billion.
Who is PTC?
PTC is a global software company and the category leader in the product lifecycle management (PLM) market. PTC’s product portfolio focuses on the digital thread of product information that manufacturers use across the engineering, manufacturing, operation, and service stages of the product lifecycle. Like ServiceMax, PTC sells to manufacturers of complex, highly configured products. PTC has over 30,000 customers and partners around the world. PTC is headquartered in Boston, MA and employs more than 6,000 people globally.
Why is PTC buying ServiceMax?
PTC is pursuing a closed-loop product lifecycle management (PLM) strategy to provide manufacturers with a comprehensive view of their products at each stage of the product lifecycle, inclusive of product service. PTC’s CAD and PLM solutions provide the system of record for the digital definition of a product’s configuration. PTC’s IoT solutions provide the system of record for a product’s operation in the field. ServiceMax’s field service management portfolio provides the system of record for serviced products. With the addition of ServiceMax’s capabilities, PTC will be poised to be the only company that can offer manufacturers a comprehensive view of their products at each stage of the lifecycle.
In addition, ServiceMax is a cloud-native SaaS company, and the acquisition is expected to accelerate PTC’s own SaaS strategy.
When will the deal close?
The transaction is expected to close in January.
How will ServiceMax be integrated into PTC?
At this time, PTC has signed the definitive agreement to acquire ServiceMax. PTC will provide more information about the ServiceMax integration plans once the acquisition is complete.
How have PTC and ServiceMax worked together in the past?
PTC and ServiceMax partnered in 2015: https://www.servicemax.com/press-releases/servicemax-partners-with-ptc-to-bring-the-first-ever-connected-field-service-product-to-market
While the initial alliance focused primarily on IoT and augmented reality, ServiceMax’s product portfolio is now expected to complement PTC’s entire product portfolio as part of its closed-loop product lifecycle management strategy.
What happens to the ServiceMax brand/identity in the market?
ServiceMax has a strong brand in the market, and PTC expects to continue leveraging the brand going forward. Discussions about the future brand strategy will begin after the acquisition is complete.
Will this change any of the ServiceMax products?
Customers and partners should not anticipate any changes to ServiceMax products. Once the acquisition is complete, PTC will provide more information about the ServiceMax product roadmap and planned integrations with PTC products.
What does this mean for ServiceMax’s relationship with Salesforce (and use of the Salesforce platform)?
PTC and ServiceMax are committed to the Salesforce relationship and platform. We expect to continue innovating on the Salesforce platform to enable and support our customers.
Who do I reach out to with any questions I may have?
If you are a ServiceMax customer, please reach out to your sales representative with additional questions.
If you are a reporter, industry analyst, or financial analyst, please reach out to Ally Zwahlen at firstname.lastname@example.org