Computer-aided design specialist PTC has signed a definitive agreement to acquire Arena Solutions, a software as a service (SaaS) product lifecycle management (PLM) platform provider.
The acquisition will further PTC’s strategy to be the leader in the rapidly-growing market for SaaS-based product development software, enabling the company to deliver a complete CAD + PLM SaaS solution.
Under the terms of the agreement, PTC will acquire Arena Solutions for $715 million in cash. Subject to customary closing conditions and completion of regulatory review, the acquisition is expected to be completed in PTC’s fiscal Q2 2021. [Read more…] about PTC to acquire product lifecycle management provider Arena Solutions