PTC to acquire Arbortext

Product life cycle management software company PTC reports it has entered into a definitive agreement to acquire Arbortext, which serves some 1,700 customers worldwide in multiple industries, including discrete manufacturing, life sciences, financial services, insurance, publishing and government.

PTC says that with the acquisition, it will be well-positioned to enable customers to create, manage and dynamically publish critical information concurrently with the development of related products or services, improving time-to-market, quality, cost and customer satisfaction.

The transaction is expected to close by the end of July, subject to customary conditions including regulatory approval. The transaction has been approved by Arbortext shareholders.