PTC Completes Acquisition of ServiceMax
PTC (NASDAQ: PTC) today announced that it has completed its acquisition of ServiceMax from an entity majority owned by Silver Lake. The acquisition adds important field service management (FSM) capabilities to PTC’s closed-loop product lifecycle management (PLM) and digital thread offerings. ServiceMax provides a comprehensive suite of cloud-native FSM capabilities for servicing complex long-lifecycle products, including managing information about serviced products, creating and managing work orders, and scheduling and dispatching technicians. Product manufacturers increasingly view their product-related service offerings as an important business strategy for maintaining product performance, increasing customer satisfaction, driving revenue growth, and expanding profitability.
“Completing the ServiceMax acquisition ushers in the next era of PTC’s closed-loop PLM strategy,” said Jim Heppelmann, President and CEO, PTC. “With the ServiceMax® FSM suite in our portfolio, the solution set we can now offer for the service part of the product lifecycle is one of the broadest in the industry. We look forward to expanding the ServiceMax business globally and bringing these important product service capabilities to our customers.”