PTC Logo

PTC to Acquire SaaS Field Service Management Provider ServiceMax

By MedTech Intelligence Staff
PTC Logo

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.

PTC has signed a definitive agreement to acquire ServiceMax for approximately $1.46 billion. ServiceMax provides a suite of cloud-native, product-centric field service management (FSM) software and capabilities built on the Salesforce platform. These capabilities include managing all relevant information about serviced products—including product description, serial number, service history—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.

The acquisition is expected to strengthen PTC’s closed-loop product lifecycle management (PLM) offerings by extending the digital thread of product information into downstream enterprise asset management (EAM) and FSM capabilities. The transaction is expected to close in early January 2023.

“The addition of ServiceMax will realize a key part of PTC’s closed-loop PLM strategy,” said Jim Heppelmann, President and CEO of PTC. “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. 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.”

“ServiceMax and PTC have a longstanding relationship rooted in the common profile of our customers, the natural synergies of our products, and a shared understanding of the importance of product data at different stages of the lifecycle,” said Neil Barua, CEO, ServiceMax. “We’re excited for the ServiceMax team to strengthen the service offerings of PTC’s digital thread and closed-loop PLM portfolio.”

Related Articles

  • Helen Lowe

    Companies can make mistakes during drug and device development and in the post-marketing maintenance phase, but all too often, organizations apply a temporary solution to the problem and move on. In this article, Helen Lowe at Arriello addresses how Corrective…

  • Thomas Skogen

    Mitigating risk of failure is one of the most important disciplines to perform for medical device manufacturers, and for the last couple of years, it has become an increasingly difficult discipline to master.

  • Dan Golder, Impact Advisors

    Standalone best-of-breed Enterprise Asset Management (EAM) systems have historically been leveraged to help solve the transactional needs of clinical engineering, IT and facilities. Yet few organizations are currently capitalizing on the wealth of data generated from these systems. In this…

  • Tim Brown

    Bringing design and quality assurance processes together earlier in the device development process can reduce costs and nonconformances, while improving outcomes.

About The Author

MedTech Intelligence

Leave a Reply

Your email address will not be published. Required fields are marked *