RTTNews | Dec 14, 2020 08:27AM EST

08:27 Monday, December 14, 2020 (RTTNews.com) - PTC, Inc. (PTC) announced Monday that it has signed a definitive agreement to acquire Arena Solutions, Inc., the industry's leading "software as a service" (SaaS) product lifecycle management (PLM) platform provider.

The acquisition will further PTC's strategy to be the leader in the rapidly-growing market for SaaS-based product development software, enabling the company to deliver a complete CAD + PLM SaaS solution.

Under the terms of the agreement, PTC will acquire Arena Solutions for $715 million in cash. The transaction will be funded with cash on-hand and amounts borrowed under PTC's existing credit facility.

Subject to customary closing conditions and completion of regulatory review, the acquisition is expected to be completed in PTC's second quarter of fiscal 2021. The transaction is expected to be neutral to PTC's fiscal 2021 cash flow from operations target of $365 million and free cash flow target of $340 million and accretive to fiscal 2021 and beyond.

Foster City, California-based Arena Solutions serves more than 1,200 customers across the electronics, high-tech, and medical-device industries, including world-class innovators such as Nutanix, Peloton, Sonos and Square.

Read the original article on RTTNews ( https://www.rttnews.com/3153424/ptc-to-acquire-arena-solutions-for-715-mln-in-cash-quick-facts.aspx)

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