Acquisition
PTC acquires Intland Software
PTC announced the signing of an agreement to acquire Intland Software for approximately USD 280 million. Intland develops and markets the Application Lifecycle Management (ALM) software family Codebeamer.
Headquartered in Stuttgart, Germany, Intland serves global ALM customers in the automotive, life sciences, consumer electronics, aerospace and defense industries.
The Codebeamer product provides customers with requirements, risk and test management capabilities, supports modern agile software development and integrates with the best DevOps and source code management tools valued by software developers. Codebeamer's pre-built templates and partner integrations make it easier for customers to meet the stringent requirements common in regulated industries.
PTC plans to offer Codebeamer as a standalone solution and in conjunction with its Windchill and Arena PLM offerings, as well as to further enhance and support its existing ALM solution.
The acquisition is expected to significantly broaden and deepen PTC's ALM presence in safety-critical and regulated industries. Subject to the satisfaction of applicable closing conditions, the transaction is expected to close in the third quarter of PTC's fiscal year.
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