Acquisition strengthens position in ALM area

Now, PTC announced the sign­ing of a defin­i­tive agree­ment to acquire Int­land Soft­ware for approx­i­mate­ly $280 mil­lion. Int­land devel­ops and mar­kets the Code­beam­erTM appli­ca­tion life­cy­cle man­age­ment (ALM) soft­ware fam­i­ly, includ­ing a cloud-enabled, ful­ly inte­grat­ed next-gen­er­a­tion offer­ing. The acqui­si­tion is expect­ed to sig­nif­i­cant­ly broad­en and deep­en PTC’s ALM pres­ence in safe­ty-crit­i­cal and reg­u­lat­ed indus­tries. Sub­ject to the sat­is­fac­tion of applic­a­ble clos­ing con­di­tions, the trans­ac­tion is expect­ed to close in the third quar­ter of PTC’s fis­cal year.

“The addi­tion of Code­beam­er will broad­en and deep­en our ALM port­fo­lio and enable us to fur­ther sup­port our cus­tomers’ efforts to inte­grate sophis­ti­cat­ed soft­ware sys­tems into their prod­ucts. This acqui­si­tion will also com­ple­ment our strengths as part of our Dig­i­tal Thread port­fo­lio strategy.”

- Jim Hep­pel­mann, Pres­i­dent and CEO

Int­land is head­quar­tered in Stuttgart, Ger­many and serves an impres­sive num­ber of glob­al ALM cus­tomers in the auto­mo­tive, life sci­ences, con­sumer elec­tron­ics, 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, sup­ports mod­ern agile soft­ware devel­op­ment, and inte­grates with best-of-breed DevOps and source code man­age­ment tools val­ued by soft­ware devel­op­ers. Code­beam­er’s pre-built tem­plates and part­ner inte­gra­tions make it eas­i­er for cus­tomers to meet the strin­gent require­ments com­mon in reg­u­lat­ed industries.

The com­pa­ny plans to offer Code­beam­er as a stand­alone solu­tion and in con­junc­tion with its Wind­chill and Are­na PLM offer­ings, as well as to fur­ther enhance and sup­port its exist­ing ALM solu­tion. “The entire Int­land team is proud of the suc­cess we have had in devel­op­ing and deliv­er­ing a mod­ern ALM offer­ing that has gained wide accep­tance in the mar­ket­place,” said Janos Kop­pa­ny, CEO Int­land Soft­ware. “Our Code­beam­er offer­ings per­fect­ly com­ple­ment 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 the exist­ing cred­it facil­i­ty. Man­age­ment plans to dis­cuss the expect­ed impact of the Int­land acqui­si­tion on finan­cial and oper­at­ing met­rics dur­ing its sec­ond quar­ter earn­ings con­fer­ence call on April 27.