The M&A and Technology teams advised PTC (NASDAQ: PTC) on its definitive agreement to acquire ServiceMax for approximately $1.46 billion in cash on a debt-free, cash-free basis from an entity majority owned by Silver Lake.

PTC enables global manufacturers to realize double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency, and increase workforce productivity.

ServiceMax is a recognized leader in cloud-native, product-centric field service management software.

The acquisition is expected to strengthen PTC’s closed-loop product lifecycle management offerings by extending the digital thread of product information into downstream enterprise asset management and field service management capabilities. Subject to the satisfaction of regulatory approval and other applicable closing conditions, the transaction is expected to close in early January 2023.

The Goodwin team was led by Ed Amer and Rob Dzialo, and included Stuart Cable, Lisa Haddad, Isaac Wall, Sara King, Katie Jones, Steve Charkoudian, JB Schiller, Alex Apostolopoulos, Aime Salazar, Cecelia Lockner, Shelby Hecht, Sarah Bock, Morgan Frisoli, Chris Jones, Andrew Lacy, Kara Kuritz, Simone Waterbury, Alison Finneran, Edward HolzwangerAmy Josselyn, Katie Dee, Jacqueline Klosek and Adam Slutsky, with invaluable assistance from Michele Eason-Priest and Danny Adames.

For more details, read the press release.