It was announced today that PTC it has signed an agreement to acquire Servigistics, a developer of service lifecycle management software and a portfolio company of Marlin Equity Partners, for approximately $220 million in cash. The transaction is expected to be completed in September 2012.
Servigistics provides software solutions that enable companies to plan, manage and monitor their post-sale service business processes including service parts, field technician scheduling and routing, service knowledge and pricing management. Over the past 12 months Servigistics had approximately $80 million in revenue. The company is based in Atlanta, GA with regional headquarters in the UK, Japan and India (www.servigistics.com).
Marlin Equity Partners invests in businesses across multiple industries that are in the process of undergoing varying degrees of operational, financial or market-driven change. The firm is based in is a Los Angeles, CA (www.marlinequity.com).
PTC (Nasdaq: PMTC) enables manufacturers to achieve sustained product and service advantage. The company’s technology solutions transform the way products are created and serviced across the entire product lifecycle – from conception and design to sourcing and service. Founded in 1985, PTC employs over 6,000 and is based in Needham, MA (www.ptc.com).
RBC Capital Markets is acting as financial advisor to PTC. Blackstone Advisory Partners is acting as financial advisor to Servigistics and Marlin Equity Partners.