PTC strengthen closed-loop PLM with $1.4Bn ServiceMax acquisition

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PTC has announced its acquisition of a leading SaaS field service management provider ServiceMax for $1.46 billion in cash, as it looks to reinforce its PLM offering by extending into downstream enterprise asset management and FSM capabilities.

Partners since 2015, PTC and ServiceMax both support manufacturers of complex, highly configured products for the medical device, industrial products, aerospace, and related verticals. With field service viewed as a strategic part businesses in order to maintain product performance, extend lifecycles, and drive revenue growth.

ServiceMax provides a suite of cloud-native FSM capabilities built on the Salesforce platform. These capabilities include managing all relevant information about serviced products – product description, serial number, service history, and more – creating and managing work orders, and scheduling and dispatching technicians. ServiceMax’s FSM capabilities are also closely integrated with Salesforce’s customer relationship management (CRM) system, which bridges a deep understanding of the product with an equally deep understanding of the customer.

“The PLM capabilities PTC has long offered to engineering and manufacturing departments provide the system of record for the digital definition of any product configuration.,” said PTC CEO Jim Heppelmann.

“ServiceMax will complement this by providing the system of record for monitoring and servicing product instances after they leave the factory and move into customer use. Upon completion of this acquisition, PTC will have the unique ability to complement the full digital product definition from our computer-aided design and PLM solutions with detailed usage information from our internet of things (IoT) solutions and the complete service history from ServiceMax.

“PTC is poised to be the only company that will be able to offer manufacturers this comprehensive view of their products at each stage of the lifecycle.”

ServiceMax’s FSM capabilities will leverage product definition data from PTC’s Creo and Windchill solutions, as well as other data from the PTC portfolio, including IoT and digital twin capabilities from ThingWorx, and augmented reality capabilities from Vuforia software.