PTC to Buy Intland Software
PTC reports a definitive agreement to acquire Intland Software for approximately $280 million.
April 26, 2022
PTC has inked a definitive agreement to acquire Intland Software, an Industrial Internet of Things specialist, for approximately $280 million. Intland Software, which operates in the UK from its base in Farnborough, intends to broaden and deepen its Application Lifestyle Management (ALM) footprint across safety-critical and regulated industries, the company reports.
Expected to close in PTC’s fiscal third quarter, the deal will leverage Intland’s Codebeamer ALM family of software products, including a next-generation, cloud-ready, fully integrated offering.
“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,” says Jim Heppelmann, president and CEO of PTC.
“This acquisition will also complement our strengths in Product Lifecycle Management (PLM) and model-based systems engineering as part of our digital thread portfolio strategy.”
Intland, headquartered in Stuttgart in Germany, serves an array of global enterprise ALM customers operating across the automotive, life sciences, consumer electronics and aerospace and defense industries.
Codebeamer features a flexible and modern, easy-to-use interface, providing requirements, risk and test-management capabilities, while also supporting contemporary agile software development and integrating with DevOps and source code management tools.
The solution’s pre-built templates and partner integrations enable customers to meet stringent requirements common in regulated industries.
PTC plans to offer Codebeamer standalone and in conjunction with its Windchill and Arena PLM offerings, and to enhance and support its existing ALM solution.
“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,” says Janos Koppany, CEO, Intland Software.
The transaction will be funded with cash on hand and amounts borrowed under PTC’s existing credit facility.
Centerview Partners LLC acted as exclusive financial advisor to PTC on the transaction.
Sources: Press materials received from the company and additional information gleaned from the company’s website.
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