PTC has agreed to acquire Intland Software for about $280 million. Intland is a German-based software developer that specializes in Application Lifestyle Management (ALM) Software. The transaction will allow PTC to upscale its ALM software offerings. The transaction is projected to close in PTC’s fiscal third quarter.

Jim Heppelman, the president and CEO of PTC said, “The addition of Codebeamer will broaden and deepen our ALM portfolio and enable us to further support our customers’ efforts to incorporate sophisticated software systems into their products.”

The transaction will be funded with cash and borrowed credit.

Centerview Partners LLC served as financial advisor to PTC on the transaction.