PTC to Acquire Atego
Perspectives on the Acquisition
NEEDHAM, MASS., June 16, 2014 – PTC (Nasdaq: PTC) today announced it has signed a definitive agreement to acquire Atego, a developer of model-based systems and software engineering applications based in Cheltenham, UK, for approximately $50 million in cash. Subject to satisfaction of customary closing conditions, the transaction is expected to be completed in PTC’s fiscal Q4 2014.
The acquisition enhances PTC’s portfolio of product lifecycle management (PLM) and application lifecycle management (ALM) solutions, and strengthens PTC’s commitment to supporting its customers’ systems engineering initiatives with powerful modeling capabilities.