Software provider PTC is boosting its application lifecycle management portfolio with the acquisition today of Pure-Systems, marking the fourth acquisition by PTC over the past 18 months.
The Boston-based product lifecycle management (PLM) technology company has spent approximately $1.8 billion on acquisitions recently, including a whopping $1.46 billion on ServiceMax in November, which specialized in cloud-native field service management software.
Last year, PTC also purchased application lifecycle management provider Intland Software for $280 million.
Boston-based PTC has now purchased two Germany-based IT companies, including acquiring augmented reality software provider RE’FLEKT in December, and now Pure-Systems, a specialist in product and software variant management solutions. Financial terms of both deals were not disclosed.
PTC CEO Touts Pure-Systems AcquisitionADVERTISEMENT
PTC CEO Jim Hepplemann said the purchase of Pure-Systems adds key capabilities to the company’s Codebeamer application lifecycle management (ALM) solution, which he touts as “critical to manufacturers” across the globe.
“Manufacturers are increasingly turning to software to differentiate their products and to create different versions of their products to address the full range of customer needs,” said Hepplemann in a statement.
The CEO and chairman added: “Automakers that are investing heavily in software-defined vehicles require tightly integrated ALM and software variant management solutions to plan and deliver the different software configurations that power their range of vehicle offerings.”
Founded in 2001, Germany-based Pure-Systems is a provider of management solutions targeting the manufacturing industry. Manufacturers use the company’s systems’ Pure::Variants tools to manage the different variations of software and systems engineering assets across their product configurations.
PTC’s goal with the acquisition is to boost its ALM sales and customer reach, as well as enhance relationships with customers in regulated industries such as aerospace, medical device and automotive manufacturers.
“We believe that the combination of Codebeamer and Pure::Variants positions PTC as one of the leading providers of software requirements, configuration, testing, and validation solutions in the market,” said PTC’s Hepplemann.
Mark Haranas is an assistant news editor and longtime journalist now covering cloud, multicloud, software, SaaS and channel partners at CRN. He speaks with world-renown CEOs and IT experts as well as covering breaking news and live events while also managing several CRN reporters. He can be reached at [email protected].
Nutanix CEO On ‘Areas Of Concern’ In VMware-Broadcom Deal For Customers And PartnersScienceLogic CEO Link: AI, LLMs Can Help With Proactive Quality MonitoringObserve Inc. Launches ‘Hubble’ Observability Platform, Raises $50M In FundingDatabricks Negotiating New Funding Round That Could Push Valuation To $43B: ReportKyndryl CEO Martin Schroeter: ‘AI Sits At The Heart Of How We Run Our Own Business’ TO TOPADVERTISEMENT
- Nutanix CEO On ‘Areas Of Concern’ In VMware-Broadcom Deal For Customers And Partners | CRN
- IBM CEO Arvind Krishna Aims To Grow Revenue Coming From Partners To 50 Percent, Touts ‘Huge Amount’ Of Money To Be Made In AI | CRN
- CDW Data Could Leak Next Week After Insulting LockBit With Low Ransom Bid: Report | CRN
- SentinelOne To Challenge ‘Antiquated’ SIEM Technology From Splunk: CEO | CRN
- SentinelOne CEO: Microsoft Security Should Be More Like Apple | CRN