In a bid to expand its service lifecycle management (SLM) services, technology company PTC announced that it will acquire SLM software company Servigistics for $220 million in cash. PTC expects to complete the transaction in September.
The deal is set to expand PTC’s service system across all major aspects of a product’s service lifecycle. The company, which previously had acquired software companies ITEDO and 4CS, along with Logistics Business Solutions, already offers warranty and contract management, among other services. Servigistics will bring with it technology for service parts planning, management and pricing, field service management, returns and repair management, and service knowledge management.