PTC Completes Acquisition of Intland Software

Acquisition Adds Strength to ALM Portfolio

BOSTON, May 3, 2022 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced that it has completed its acquisition of Intland Software. The acquisition will significantly broaden and deepen PTC's Application Lifecycle Management (ALM) footprint across safety-critical and regulated industries, including automotive, life sciences, consumer electronics, and aerospace and defense. PTC plans to offer the Intland Codebeamer™ next-generation ALM suite standalone and in conjunction with both its Windchill® and Arena® PLM offerings, and to continue to enhance and support its current ALM solution.

"We are pleased to complete the acquisition of Intland," said Jim Heppelmann, President and CEO, PTC. "Codebeamer is fast becoming the new standard in safety-critical and regulated industries as products are increasingly differentiated by software. The addition of Codebeamer to our ALM suite will bolster both ALM and PLM growth potential by significantly increasing our product strength and market momentum."

About PTC (NASDAQ: PTC)

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. In combination with an extensive partner network, PTC provides customers flexibility in how its technology can be deployed to drive digital transformation – on premises, in the cloud, or via its pure SaaS platform. At PTC, we don't just imagine a better world, we enable it. For more information, please visit www.ptc.com.

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Forward-Looking Statements

This news release contains statements about future events and expectations, including the effect of the acquisition on the growth of our ALM and PLM solutions, the expected value of the acquired technology to our business, and continued enhancement and support for our current ALM suite. These statements are "forward-looking statements" that involve risks and uncertainties that could cause actual results to differ materially from those projected as a result of certain risks and uncertainties, including that the acquired technology may not provide the access to new customers and markets that we expect if those customers and markets are not receptive to the technology; existing customers may elect to replace their solutions with competitors' solutions; we may be unable to integrate the acquired technology when or as we expect, which could adversely affect our ability to offer additional ALM solutions; customers may not adopt ALM solutions for product development as we expect, which would adversely affect our business; key Intland employees may not stay with PTC, which could disrupt the Intland business and our ability to successfully integrate and operate the Intland business; we may decide to discontinue enhancement and support of our ALM solutions or some of Intland's solutions; and other risks and uncertainties described in PTC's filings with the U.S. Securities and Exchange Commission.

PTC, Codebeamer, Windchill, Arena, and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or its subsidiaries in the United States and other countries.

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SOURCE PTC Inc.