M&A Deal Summary

PTC Acquires Axeda

On July 23, 2014, PTC acquired internet software and services company Axeda from JMI Equity for 170M USD

Acquisition Highlights
  • This is PTC’s 3rd transaction in the Internet Software and Services sector.
  • This is PTC’s 6th largest (disclosed) transaction.
  • This is PTC’s 15th transaction in the United States.
  • This is PTC’s 4th transaction in Massachusetts.

M&A Deal Summary

Date 2014-07-23
Target Axeda
Sector Internet Software and Services
Buyer(s) PTC
Sellers(s) JMI Equity
Deal Type Add-on Acquisition
Deal Value 170M USD

Target

Axeda

Foxboro, Massachusetts, United States
Axeda Corp. is a developer of solutions that securely connect machines and sensors to the cloud. Axeda offers leading-edge IoT technology built on a modern architecture purpose-built for collecting and organizing the world’s machine and sensor data.

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Buyer(S) 1

Buyer

PTC

Boston, Massachusetts, United States

Category Company
Founded 1985
Sector Software
Employees6,268
Revenue 2.1B USD (2023)
DESCRIPTION

PTC is a U.S.-based computer software company specializing in 2D & 3D design software, product lifecycle management, and service management solutions. PTC was founded in 1985 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 20 of 28
Sector (Internet Software and Services) 3 of 5
Type (Add-on Acquisition) 19 of 26
State (Massachusetts) 4 of 5
Country (United States) 15 of 22
Year (2014) 2 of 2
Size (of disclosed) 6 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-01 AtegoTM

Cheltenham, United Kingdom

AtegoTM, is a developer of model-based systems and software engineering applications. Atego's Model-Based Systems Engineering (MBSE) solution connects requirements engineering, architecture modeling, physical product definition, and system verification functions.

Buy $50M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-05 ColdLight Solutions

Wayne, Pennsylvania, United States

ColdLight Solutions LLC is a provider of advanced analytics, predictive technology services and advanced Big Data predictive analytics to drive better business outcomes for large enterprise customers. ColdLight’s technology is used across a diverse range of business verticals including media, healthcare, financial services, personal data management, customer retention and retail.

Buy $105M

Seller(S) 1

SELLER

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $10 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.


DEAL STATS #
Overall 65 of 106
Sector (Internet Software and Services) 9 of 22
Type (Add-on Acquisition) 46 of 67
State (Massachusetts) 6 of 10
Country (United States) 59 of 94
Year (2014) 5 of 7
Size (of disclosed) 26 of 34
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-11 Harmony Information Systems

Reston, Virginia, United States

Harmony Information Systems Inc. is a provider of Web-based, business process and case management software solutions for the human services industry. HarmonyIS developed and markets Harmony, a Web-based, enterprise framework suite of software applications for information management in the human services field.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-20 AirClic

Trevose, Pennsylvania, United States

AirClic is a provider of cloud-based mobile software products that improve the performance of mobile supply chain and logistics operations.

Sell -