PTC acquires next-generation application lifecycle management company

PTC​​ (NASDAQ: ​​PTC ​​) ​​today announced that it has signed a definitive agreement to acquire ​​​​Intland Software ​​​​for approximately $280 million . Intland develops and markets the ​​​​Codebeamer ​​​​™ Application Lifecycle Management (ALM) portfolio of next-generation, cloud-ready, fully integrated software products. The acquisition is expected to significantly expand and deepen PTC’s ALM presence in safety-critical and regulated industries. The transaction is expected to close in PTC’s third fiscal quarter, subject to satisfaction of applicable closing conditions.

“The addition of Codebeamer will broaden and deepen our ALM portfolio and enable us to further support customers in incorporating complex software components into their products,” said Jim Heppelmann, president and CEO of PTC. “This acquisition also complements our strengths in PLM and model-based systems engineering as part of our digital thread portfolio strategy.”

Headquartered in Stuttgart, Germany, Intland serves a broad range of leading global enterprise ALM clients in the automotive, life sciences, consumer electronics, and aerospace and defense industries.

A flexible, modern, easy-to-use interface is key to Codebeamer's success. Codebeamer is able to provide customers with requirements, risk, and test management capabilities while supporting modern agile software development and integrating with best-in-class DevOps and source code management tools that software developers love. Codebeamer's pre-built templates and partner integrations make it easier for customers to achieve the stringent requirements common in regulated industries.

PTC plans to offer Codebeamer as a standalone capability and continue to enhance and support existing ALM solutions in conjunction with its Windchill and Arena PLM products.

“The entire Intland team is proud of our success in developing and delivering a modern and well-recognized ALM product,” said Janos Koppany, CEO of Intland. “The Codebeamer product is a perfect complement to PTC’s portfolio of product development solutions, and Intland looks forward to continuing our growth journey as part of PTC.”

The transaction will be financed with existing cash and borrowings under PTC's credit facilities. PTC's management will discuss the expected financial and operational impact of the Intland acquisition during PTC's fiscal second quarter earnings call on April 27.

Centerview Partners LLC served as exclusive financial advisor to PTC in this transaction.