PTC Expands Existing Relationship with Strategic Investment in ServiceMax

Solidifies Commitment to Service Lifecycle Management (SLM) Marketplace

NEEDHAM, Mass. — (BUSINESS WIRE) — August 26, 2015 — PTC® (NASDAQ: PTC) today announced an investment in a Series F funding for its strategic partner ServiceMax, a leading provider of field service management solutions. The investment expands PTC’s relationship with ServiceMax, announced in May of this year, as well as furthers its ongoing commitment to the service lifecycle management (SLM) marketplace.

ServiceMax is a major provider of complete end-to end mobile and cloud-based technology for the field service management industry. ServiceMax creates solutions for the millions of people globally who install, maintain, and repair machines and other industrial assets across dozens of industries.

As announced earlier, PTC and ServiceMax have partnered to engage in joint development, marketing, and sales. PTC is in the process of integrating its world-class Service Information and Parts Optimization solutions with ServiceMax’s powerful Field Service Management (FSM) solution. PTC is also integrating the combined solutions with its ThingWorx® application development platform to enable pervasive Internet of Things (IoT) connectivity, making possible remote, predictive, and proactive service, as well as outcome-based business models. Since the announcement, customers and industry analysts have commented favorably on the parties’ relationship.

This latest round of financing for ServiceMax is a co-investment led by Premji Investments, with participation from several other investors, including GE – another PTC partner. ServiceMax has stated that it intends to use the financing to increase its sales and marketing efforts.

“Our strategic investment underscores the importance of our relationship with ServiceMax as well as PTC’s commitment to the SLM market,” stated Jim Heppelmann, president and CEO, PTC.

"We are excited and proud of our deepening relationship with PTC, as evidenced by this investment,” stated Dave Yarnold, CEO, ServiceMax. “We are helping customers around the world leverage their service organizations to drive growth. With 400 companies relying on ServiceMax as their mobile field service solution, we’ve clearly established ourselves as the global market leader. We’re thrilled to secure financing that will enable us to continue investing in this massive market opportunity and fuel the convergence of field service and the Internet of Things.”

Follow us on Twitter - Watch us on YouTube - Connect with us on LinkedIn - Join our PTC Community - Visit us on Facebook

About PTC

PTC (Nasdaq: PTC) is a global provider of technology platforms and enterprise applications for smart and connected products, operations, and systems. PTC’s enterprise applications serve manufacturers and other businesses that create, connect, operate, analyze and service products. Led by its award-winning ThingWorx® application enablement platform, PTC’s platform technologies help companies deliver new value emerging from the Internet of Things. An early pioneer in Computer Aided Design (CAD) software, PTC later expanded into product lifecycle management and service lifecycle management. Today, PTC employs more than 6,000 professionals serving more than 28,000 businesses worldwide.

PTC and ThingWorx are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.



Contact:

PTC
Beth Ambaruch, 952-435-5058
Email Contact
or
WeberShandwick for PTC
Anand Savani, 617-520-7290
Email Contact




Review Article Be the first to review this article
HP

ACE2017

Featured Video
Editorial
Jeff RoweJeff's MCAD Blogging
by Jeff Rowe
Major Autodesk Disruption: Carl Bass Resigns
Jobs
Inside Sales for SolidCAM at Newtown, PA
Director of Mechanical Engineering for Velodyne LIDAR at Morgan Hill, CA
Project Architect for LAMBERT Architecture and Interiors at Winston-Salem, NC
Database Specialist for MDA Information Systems LLC at Gaithersburg, MD
Architect for North County Transit District at Oceanside, CA
Upcoming Events
SOLIDWORKS 2017 Launch Event – Dudley at The Conference Hub, Dudley College of Technology, DY1 4AS Dudley United Kingdom - Feb 22, 2017
JEC World 2017 at Paris Nord Villepinte Exhibition Centre Paris France - Mar 14 - 16, 2017
SOLIDWORKS funding event – Leicester at The National Space Centre, Exploration Dr, Leicester, LE4 5NS Leicester United Kingdom - Mar 17, 2017
ACE 2017 Nashville at Nashville TN - Mar 21 - 23, 2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise