PTC To Acquire ServiceMax To Bolster Field Service Management

PTC’s proposed acquisition of ServiceMax, which in 2019 was sold by its parent company General Electric to private equity firm SilverLake, is subject to regulatory approval, and is slated to close in early January 2023. ServiceMax is PTC’s second acquisition this the year, following its May purchase of Intland, developer of the Codebeamer application life-cycle management (ALM) cloud-ready software product suite. However, PTC President and CEO Jim Heppelmann said in a statement that the acquisition of ServiceMax will be a key part of his company’s closed-loop PLM strategy. “The PLM capabilities PTC has long offered to engineering and manufacturing departments provide the system of record for the digital definition of any product configuration. ServiceMax will complement this by providing the system of record for monitoring and servicing product instances after they leave the factory and move into customer use,” Heppelmann said.