PTC Acquires pure-systems

Rhea-AI Summary

PTC acquires pure-systems, a leading provider of product and software variant management solutions, to enhance their ALM suite and position in the market.

Positive

• Acquisition supports PTC's ALM leadership in regulated industries and is expected to drive additional ALM growth.
• PTC believes the combination of Codebeamer and pure::variants positions them as one of the leading providers of software requirements, configuration, testing, and validation solutions in the market.

Negative

• None.

• pure-systems' pure::variants solution adopted by some of the world's largest manufacturing companies for managing software and product variants.
• Acquisition supports PTC's ALM leadership across automotive, medical device, aerospace, and other safety-critical and regulated industries.

BOSTON, Oct. 4, 2023 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced that it has acquired pure-systems, a leading provider of product and software variant management solutions. Manufacturing companies use pure-systems' pure::variants® solution to efficiently manage the different variations of software and systems engineering assets across their product configurations. PTC and pure-systems had partnered prior to the acquisition, and pure::variants is already integrated with and directly complements PTC's Codebeamer® application lifecycle management (ALM) solution and similarly complements PTC's Windchill® product lifecycle management (PLM) solutions. The addition of pure-systems is expected to support PTC's leading position in the fast-growing ALM market, drive additional ALM growth, and enhance relationships with customers in regulated industries – including automotive, aerospace, and medical device manufacturers – which are increasingly prioritizing software in their product designs.

"The acquisition of pure-systems adds important functionality to our ALM suite that is critical to manufacturers around the world," said Jim Heppelmann, Chairman and CEO, PTC. "Manufacturers are increasingly turning to software to differentiate their products and to create different versions of their products to address the full range of customer needs. In particular, automakers that are investing heavily in software-defined vehicles require tightly integrated ALM and software variant management solutions to plan and deliver the different software configurations that power their range of vehicle offerings. We believe that the combination of Codebeamer and pure::variants positions PTC as one of the leading providers of software requirements, configuration, testing, and validation solutions in the market."

"The pure-systems team is thrilled to join PTC and continue supporting our manufacturing customers' needs for software variant management solutions," said Danilo Beuche, CEO, pure-systems. "PTC shares our focus on this critical need for companies that make complex, regulated products and on the importance of an open ecosystem approach. We are proud of what the pure-systems team has accomplished for our customers to this point, and we are excited to join PTC's ALM group to continue to grow our position in this important market."

About PTC

PTC (NASDAQ: PTC) is a global software company that enables industrial and manufacturing companies to digitally transform how they engineer, manufacture, and service the physical products that the world relies on. Headquartered in Boston, Massachusetts, PTC employs over 7,000 people and supports more than 30,000 customers globally. For more information, please visit www.ptc.com.

Forward-Looking Statements

This news release contains statements about future events and expectations, including the effects of the acquisition on our future growth and customer base, the expected value of the acquired technology to our business, and the integration of and expectations about the companies' product offerings. These statements are "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from those projected as a result of certain risks and uncertainties, including that the acquired technology may not provide the access to new customers and markets that we expect if those customers and markets are not receptive to the technology; existing customers may elect to replace their solutions with competitors' solutions; we may be unable to integrate the acquired technology when or as we expect and plans and expectations with respect to the companies' products could change; key pure-systems employees may not stay with PTC, which could disrupt the pure-systems business and our ability to successfully integrate and operate the pure-systems business; and other risks and uncertainties described in PTC's filings with the U.S. Securities and Exchange Commission.

Media Contact
United States:
Greg Payne
gpayne@ptc.com 

Germany:
Libby Fink
jfink@ptc.com 

Investor Contact
Matt Shimao
mshimao@ptc.com

PTC, pure-systems, pure::variants, Codebeamer, Windchill, and the PTC logo are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.

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SOURCE PTC Inc.