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PTC unveils USD220m deal to buy SLM software specialist.


8 August 2012 a[euro]" US Parametric Technology Corp (NASDAQ:PMTC), or PTC, said on Wednesday it had sealed a deal to buy service lifecycle management (SLM) software solutions developer Servigistics Inc for about USD220m (EUR178.1m) in cash.

By taking over this company, PTC will augment its existing line of SLM solutions which includes capabilities in the fields of warranty and contract management, service parts definition and technical information. In turn, the target has expertise in complementary areas like service parts planning, management and pricing, field service management, returns and repair as well as service knowledge management. Through the acquisition, PTC will improve the way it helps companies service their products, it said.

The transaction, which will be funded with borrowings under PTCa[euro](tm)s credit line, is awaiting regulatory clearance and is seen to close in September 2012. As a result of it, PTC is raising its prior preliminary non-GAAP EPS target of between USD1.70 and USD1.80 for fiscal 2013 by a range of USD0.02 to USD0.05.

RBC Capital Markets Corp is consulting PTC, while Blackstone Advisory Partners LP is advising Servigistics and its current owner, Los Angeles-based buyout firm Marlin Equity Partners LLC.

Servigistics is based in Atlanta, Georgia, and has regional offices in the UK, Japan and India along with sales and service professionals around the world. The privately-held firm achieved a revenue of USD80m over the past 12 months.Country: USASector: Computer SoftwareTarget: Servigistics IncBuyer: Parametric Technology Corporation (PTC)Vendor: Marlin Equity Partners LLCDeal size in USD: 220mType: Corporate acquisitionFinancing: Existing resources, DebtStatus: AgreedBuyer advisor: RBC Capital Markets Corp

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Publication:M & A Navigator
Date:Aug 8, 2012
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