has announced a definitive agreement has been reached to acquire Intland Software
for approximately $280 million. The Industrial Internet of Things specialist, which operates in the UK from its ‘state of the art’ base in Farnborough, is looking to significantly broaden and deepen its Application Lifestyle Management (ALM) footprint across safety-critical and regulated industries.
Expected to close in PTC’s fiscal third quarter, the deal will leverage Intland’s Codebeamer ALM family of software products, including a next-generation, cloud-ready, fully integrated offering.
Jim Heppelmann, president and CEO of PTC, said: “The addition of Codebeamer will broaden and deepen our ALM portfolio and enable us to further support our customers’ efforts to incorporate sophisticated software systems into their products. This acquisition will also complement our strengths in Product Lifecycle Management (PLM) and model-based systems engineering as part of our Digital Thread portfolio strategy.”
Intland, which is headquartered in Stuttgart in Germany, serves a wide selection of global enterprise ALM customers operating across the automotive, life sciences, consumer electronics, and aerospace and defence industries. Key to Codebeamer’s success is its flexible and modern, easy-to-use interface, providing customers with requirements, risk and test-management capabilities, while also supporting contemporary agile software development and integrating with the best-in-class DevOps and source code management tools that software developers love.
The solution’s pre-built templates and partner integrations make it easier for customers to meet the stringent requirements common in regulated industries. PTC plans to offer Codebeamer standalone and in conjunction with both its Windchill and Arena PLM offerings, and to continue to enhance and support its existing ALM solution.
Janos Koppany, CEO, Intland Software, said: “The entire Intland team is proud of the success we have had developing and delivering a modern ALM offering that has been widely accepted in the market. Our Codebeamer offerings are a perfect complement to 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 PTC’s existing credit facility. Management plans to discuss the expected impact of the Intland acquisition on PTC’s financial and operating metrics during its fiscal Q2 quarterly earnings call on 27 April.