mynth
11/2022

SERVICEMAX acquired by PTC

UNITED STATES Software / Supply Chain & Ops EV 1b - 4b USD

Context

PTC has signed a definitive agreement to acquire ServiceMax. The deal involves the full integration of ServiceMax’s field service management (FSM) capabilities into PTC’s broader digital thread portfolio, effectively extending the product lifecycle into post-sale customer operations. This acquisition is a cornerstone of PTC’s "closed-loop" PLM strategy. By adding ServiceMax, PTC gains the ability to connect the digital definition of a product (managed in PLM/CAD) with its actual performance and service history in the field (managed via FSM). The integration allows for a seamless flow of data where IoT solutions (ThingWorx) can trigger service orders in ServiceMax, while technicians can leverage 3D AR work instructions (Vuoforia) derived from the original CAD models (Creo). This comprehensive view allows manufacturers to close the loop between engineering and service, improving spare parts inventory management (Servigistics) and overall asset uptime.

SERVICEMAX, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

ServiceMax is a leading provider of cloud-native, product-centric field service management software. The platform serves as a mission-critical system of record for the maintenance, monitoring, and servicing of product instances after they leave the factory floor. By bridging the gap between product definition and operational execution, ServiceMax enables complex manufacturing organizations to optimize their service delivery, manage work orders, and coordinate technical dispatching. The firm’s value proposition is built upon its ability to transform field service into a strategic, profitability-driving function. By integrating deeply with customer relationship management (CRM) systems, ServiceMax provides technicians and service managers with granular visibility into product serial numbers, comprehensive service histories, and maintenance requirements.

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Historical Financials (USD)

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REFERENCES

Valuation range: EV 1b - 4b USD

Revenue range: 100M - 200M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SERVICEMAX by PTC are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Acquirer: ptc