PTC, a vendor of product lifecycle management (PLM) solutions, has signed a definitive agreement to acquire Servigistics Inc., a developer of service lifecycle management software solutions, for approximately $220 million in cash. Pending regulatory approval and satisfaction of other customary conditions, the transaction is expected to be completed in September 2012.
The acquisition will enhance PTC’s existing portfolio of service lifecycle management solutions, which includes capabilities in the areas of warranty and contract management, service parts definition and technical information - including mobile delivery. Servigistics’ offerings are in complementary areas such as service parts planning, management and pricing, field service management, returns and repair management, and service knowledge management.
As an enabling technology, service lifecycle management aims to help manufacturers and their service network partners optimize the customer experience by ensuring service is systemically planned, delivered and analyzed to continually improve performance and maximize customer value.
With Servigistics, PTC’s service lifecycle management solutions will provide manufacturers with a real-time, single view into the extended service environment to identify and respond to areas for improvement, opportunities for new business, and risks to avoid.
Over the past 12 months, privately-held Servigistics generated approximately $80 million in revenue.