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PTC To Acquire MKS
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  • PTC To Acquire MKS

PTC To Acquire MKS

FP Archives • February 2, 2017, 23:02:21 IST
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With acquisition, PTC to unify management of product hardware and software development lifecycles.

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PTC To Acquire MKS

PTC, The Product Development Company, and MKS, an application lifecycle management (ALM) technology provider, has announced that they have entered into a definitive acquisition agreement (the “Arrangement Agreement”) pursuant to which PTC has agreed to acquire MKS for CDN$26.20 per share for an aggregate purchase price of approximately CDN$292.5 million in an all cash transaction.

MKS Integrity coordinates and manages all activities and artefacts associated with developing software intensive products, including requirements, models, code and test, ensuring comprehensive lifecycle traceability. By unifying MKS’s ALM solutions with PTC’s industry-leading product lifecycle management (PLM) solutions, PTC will enable manufacturers to better align the management of a product’s hardware components and related software.

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“At PTC, we recognise that software is an essential component of nearly every manufactured product,” said PTC president and CEO Jim Heppelmann. “That’s why we have long believed that the development of product hardware and software should be managed as a unified process. With the acquisition of MKS, we are adding a best-of-breed ALM solution to our product portfolio, and extending how our PLM solution manages the development of software-intensive products.”

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“As a technology leader, MKS has seen incredible success in the ALM market and we are proud to have built such a strong and loyal customer base,” said MKS president and CEO Michael Harris. “We view the opportunity to join PTC, which we believe is the unambiguous PLM market leader, as a way to accelerate our own innovation, offer our existing customers even greater value, and extend our reach into new markets."

The acquisition is expected to close in early June 2011, subject to customary conditions, including approval of the MKS shareholders, Ontario court approval, and regulatory approvals. The acquisition is expected to be neutral to PTC’s non-GAAP financial results in fiscal 2011 and slightly accretive to PTC’s non-GAAP financial results in fiscal 2012.

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software PTC Hardware ALM MKS MKS Integrity Michael Harris
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