Software as a service
PTC takes over Arena Solutions
PTC acquires Arena Solutions, provider of SaaS platforms (Software as a Service) for Product Lifecycle Management (PLM).
The acquisition supports PTC's strategy to be a leader in the fast-growing SaaS-based product development software market and enables the company to offer a complete CAD + PLM SaaS solution. Under the terms of the agreement, PTC will acquire Arena Solutions for $715 million. Subject to customary closing conditions and completion of regulatory review, the acquisition is expected to close in the second quarter of 2021.
"A year ago, PTC entered the SaaS world for product development software with the acquisition of Onshape," said Jim Heppelmann, President and CEO of PTC. "This move reflected our strong belief that our market is approaching a tipping point in its readiness to adopt SaaS technologies, following the trend seen in many other software markets. The impact of Covid-19 has dramatically accelerated this inevitable shift. Surveys of PTC customers show that adoption of SaaS PLM has increased by 25 percent since the start of the pandemic. We expect the acquisition of Arena to significantly extend our leadership position as we redefine the future of our industry."
Arena Solutions, headquartered in Foster City, California, serves more than 1,200 customers in the electronics, high-tech and medical device industries. In addition, Arena will comprehensively expand PTC's presence in the attractive midmarket, where SaaS solutions are becoming the standard.
Arena Solutions' product realization platform combines PLM, quality management and requirements management, enabling everyone involved in the entire product design and manufacturing process - as well as the extended supply chain - to collaborate in a secure, highly available cloud environment.
"This acquisition is the logical next step in PTC's strategy to become the industrial SaaS market leader," says Heppelmann.
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