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Continuing PTC’s SaaS journey
Today, December 14, 2020, PTC announced that it has signed a definitive agreement to acquire Arena Solutions, Inc. (Arena), a leading SaaS PLM solution provider. Under the terms of the agreement, PTC will acquire Arena Solutions for $715 million in cash. Subject to customary closing conditions and completion of regulatory review, the acquisition is expected to be completed in PTC’s fiscal Q2 2021.
Founded in 2000, Arena Solutions was one of the earliest cloud-native Product Lifecycle Management (PLM) offerings. Arena was developed to be 100% cloud based and 100% multi-tenant twenty years ago, well before it became popular to consider the cloud as a viable PLM delivery mechanism. Today, their portfolio includes their multi-tenant, cloud-delivered PLM solution and on-premise offering from their 2018 Omnify acquisition. Arena Solutions provides user-ready solutions developed to address key business processes as well as satisfy regulatory and compliance requirements and serves more than 1,200 customers primarily from the electronics, high-tech, and medical-device industries.
In the announcement, Mr. Jim Heppelmann, President and CEO, PTC, stated “This acquisition is the logical next step in PTC’s strategy to be the industrial SaaS leader. A big first step was the acquisition of Onshape, the SaaS leader in CAD and collaborative design capabilities. Arena will enable us to round out the solution with full PLM capabilities and deliver the only complete CAD + PLM SaaS solution in the industry.”
CIMdata believes that the acquisition of Arena effectively complements their SaaS program and will enable PTC to extend their presence in mid-market companies, where SaaS solutions are becoming the standard. PTC management will provide additional details about the transaction at its Investor Day virtual meeting scheduled for Tuesday, December 15.
