Software Company PTC Acquires pure-systems To Bolster ALM Capabilities

PTC Inc PTC has acquired pure-systems, a provider of product and software variant management solutions. Deal terms were not disclosed.

PTC noted manufacturing firms utilize pure::variants, a solution provided by pure-systems, to effectively handle the diverse software and systems engineering assets within their product configurations.

Prior to the acquisition, PTC and pure-systems had already partnered, with pure::variants integrated into PTC's Codebeamer ALM and Windchill PLM solutions.

Pure-systems' inclusion is set to boost PTC's standing in the booming ALM market, spur further ALM growth, and strengthen ties with regulated industry customers like automotive, aerospace, and medical device manufacturers.

PTC held cash and equivalents of $282 million as of June 30, 2023.

"Manufacturers are increasingly turning to software to differentiate their products and to create different versions of their products to address the full range of customer needs. In particular, automakers that are investing heavily in software-defined vehicles require tightly integrated ALM and software variant management solutions to plan and deliver the different software configurations that power their range of vehicle offerings," stated Jim Heppelmann, Chairman and CEO, PTC.

Price Action: PTC shares traded higher by 0.71% at $138.82 on the last check Wednesday.