“The addition of Codebeamer will broaden and deepen our ALM portfolio and enable us to further support our customers’ efforts to incorporate sophisticated software systems into their products,” said Jim Heppelmann, President and CEO, PTC. “This acquisition will also complement our strengths in PLM and model-based systems engineering as part of our Digital Thread portfolio strategy.”
Intland is headquartered in Stuttgart, Germany and serves an impressive array of global enterprise ALM customers operating across the automotive, life sciences, consumer electronics, and aerospace and defense industries.
Key to Codebeamer’s success is its flexible and modern, easy-to-use interface. Codebeamer provides customers with requirements-, risk-, and test-management capabilities, while supporting contemporary agile software development and integrating with the best-in-class DevOps and source code management tools that software developers love. 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 standalone and in conjunction with both its Windchill and Arena PLM offerings, and to continue to enhance and support its existing ALM solution.
“The entire Intland team is proud of the success we have had developing and delivering a modern ALM offering that has been widely accepted in the market,” said Janos Koppany, CEO, Intland Software. “Our Codebeamer offerings are a perfect complement to PTC’s portfolio of product development solutions, and we look forward to continuing our journey as part of PTC.”
The transaction will be funded with cash on hand and amounts borrowed under PTC’s existing credit facility. Management plans to discuss the expected impact of the Intland acquisition on PTC’s financial and operating metrics during its fiscal Q2 quarterly earnings call on April 27.
Centerview Partners LLC acted as exclusive financial advisor to PTC on the transaction.
This news release contains statements about future events and expectations, including the closing of the acquisition, the effect of the acquisition on our future growth and customer base, the expected value of the acquired technology to our business, and the integration of and expectations about the companies’ product offerings. These statements are “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from those projected as a result of certain risks and uncertainties, including that the closing conditions may not be satisfied when or as we expect or may be waived; the acquired technology may not provide the access to new customers and markets that we expect if those customers and markets are not receptive to the technology; existing customers may elect to replace their solutions with competitors’ solutions; we may be unable to integrate the acquired technology when or as we expect and plans and expectations with respect to the companies’ products could change; key Intland employees may not stay with PTC, which could disrupt the Intland business and our ability to successfully integrate and operate the Intland business; and other risks and uncertainties described in PTC’s filings with the U.S. Securities and Exchange Commission.
About PTC (NASDAQ: PTC)
PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don’t just imagine a better world, we enable it.
SOURCE PTC Inc.