PTC to buy Servigistics
2012-08-10PTC has signed a definitive agreement to acquire Servigistics Inc. for approximately $220 million in cash. The acquisition is said to enhance PTC's existing portfolio of SLM solutions which includes robust capabilities in the areas of warranty and contract management, service parts definition, and technical information - including mobile delivery.
Jim Heppelmann, President &CEO, PTC 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. Their customers are at the leading edge of a global trend to take service from a cost center to a profit center, 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."
Eric Hinkle, President & CEO, Servigistics said, "At Servigistics, we share PTC's vision for helping to transform the way companies execute their service strategies. We anticipate that our clients will reap great benefits from the synergies of this shared vision and are pleased to help PTC secure a strong technology and thought leadership position in SLM."
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