PTC Acquires ServiceMax for $1.46 Billion
November 17, 2022
PTC announced a definitive agreement to acquire ServiceMax, a cloud-native SaaS field service management provider, for approximately $1.46 billion in cash from an entity majority owned by Silver Lake. The acquisition is intended to extend PTC’s closed-loop PLM and digital thread capabilities into downstream enterprise asset management and field service management, and is expected to be accretive to PTC’s SaaS ARR and cash flow.
- Buyers
- PTC
- Targets
- ServiceMax
- Sellers
- An entity majority owned by Silver Lake, Silver Lake
- Industry
- Cloud & SaaS
- Location
- California, United States
- Transaction Type
- Buyout
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