Application Lifecycle Management Company, Intland Software, to be Acquired by PTC 

PTC announced that it has signed a definitive agreement to acquire Intland Software for approximately $280 million. Intland develops and markets the Codebeamer Application Lifecycle Management (ALM) family of software products, including a cloud-ready, fully integrated offering. The acquisition is expected to help broaden and deepen PTC's ALM footprint across safety-critical and regulated industries. Subject to the satisfaction of applicable closing conditions, the transaction is expected to close in PTC's fiscal third quarter (calendar second quarter 2022).

Intland is headquartered in Stuttgart, Germany and serves a wide range of global enterprise ALM customers operating across the automotive, life sciences, consumer electronics, and aerospace and defense industries.

Key to Codebeamer's differentiation is a more flexible, modern, and user-friendlier interface. Codebeamer provides its customers with requirements-, risk-, and test-management capabilities, while supporting contemporary agile software development and integrating with the DevOps and source code management tools that software developers often leverage. Codebeamer's pre-built templates and partner integrations can make it easier for customers to meet the stringent requirements that are common in regulated industries.

PTC plans to offer Codebeamer as a standalone solution as well as in conjunction with both its Windchill and Arena PLM offerings, and will also continue to enhance and support its existing ALM solution.

The transaction will be funded with cash on hand and amounts borrowed under PTC's existing credit facility.