PTC is acquiring Intland Software for $280 million with plans to offer Intland’s Codebeamer software suite to customers across the globe
PTC plans to acquire Intland Software for $280 million in a move to “significantly broaden and deepen” the company’s application life-cycle management portfolio and footprint. Intland Software is the developer of Codebeamer, an application life-cycle management (ALM) cloud-ready software product suite of fully integrated offerings. PTC plans to offer Codebeamer as a stand-alone offering as well as in conjunction with its Windchill and Arena PLM products.
“The addition of Codebeamer will broaden and deepen our ALM portfolio and enable us to further support our customers’ efforts to incorporate sophisticated software systems into their products. This acquisition will also complement our strengths in PLM [product life-cycle management] and model-based systems engineering as part of our Digital Thread portfolio strategy,” said Jim Heppelmann, CEO, PTC.
The acquisition is expected to close in PTC’s fiscal third quarter this year. Germany-based Intland has an array of global enterprise application life-cycle management customers across the life sciences, consumer electronics, automotive and aerospace and defense industries. Intland’s Codebeamer provides customers with requirement, risk and test management capabilities, while supporting agile software development and integrating with DevOps and source code management tools. Codebeamer’s prebuilt templates and partner integrations make it easier for customers to meet the requirements common in regulated industries.
The acquisition comes as PTC this week launched its Windchill+ product life-cycle management software. The new Software-as-a-Service offering facilitates collaboration around product data and enables product development customers to bring products to market faster and accelerate deployment.
