Software and services solution provider PTC plans to acquire Intland Software for $280 million in a move to “significantly broaden and deepen” the company’s application life-cycle management portfolio and footprint.
Intland Software is the developer of Codebeamer, an application life-cycle management (ALM) cloud-ready software product suite of fully integrated offerings.
“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 PTC CEO Jim Heppelmann(pictured) in a statement. “This acquisition will also complement our strengths in PLM [product life-cycle management] and model-based systems engineering as part of our Digital Thread portfolio strategy.”
Boston-based PTC plans to offer Codebeamer as a stand-alone offering as well as in conjunction with its Windchill and Arena PLM products.
PTC is a software provider and partner of Microsoft and Rockwell Automation, with additional technology alliances with Dell Technologies, Hewlett Packard Enterprise and Ericsson. The company recently made CRN’s 2022 Internet of Things 50 list. https://c8d8a340a0cd17454575e5f31934b57c.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html
The acquisition is expected to close in PTC’s fiscal third quarter this year.
Germany-based Intland has an array of global enterprise application life-cycle management customers across the life sciences, consumer electronics, automotive and aerospace and defense industries.
Intland’s Codebeamer provides customers with requirement, risk and test management capabilities, while supporting agile software development and integrating with DevOps and source code management tools. Codebeamer’s prebuilt templates and partner integrations make it easier for customers to meet the requirements common in regulated industries, PTC said.
The acquisition comes as PTC this week launched its Windchill+ product life-cycle management software. The new Software-as-a-Service offering facilitates collaboration around product data and enables product development customers to bring products to market faster and accelerate deployment.
PTC Stops Business In Russia, Donates $1 Million To Ukraine
In other recent PTC news, PTC discontinued its business in Russia on March 3 due to Russia’s invasion of Ukraine.
“PTC stands with the Ukrainian people and condemns the Russian invasion of Ukraine in the strongest possible terms. In response to this unprovoked invasion, which continues to result in unnecessary loss of life and has forced so many Ukrainians to flee their homes and seek safety, PTC will discontinue all business operations and sales in Russia,” said PTC in March.
The company also has donated $1 million to support humanitarian efforts for the Ukrainian people.
“PTC joins all those around the world calling for peace and the fastest possible end to this conflict,” the company said.