PTC has agreed to buy JMI Equity-backed software provider Arena Solutions, Inc. for $715 million.
The acquisition of Arena will expand PTC’s position in the product lifecycle management software market, according to PTC president and CEO Jim Heppelmann. Arena serves customers in the electronics, technology and medical device industries.
Centerview Partners LLC is the financial advisor to PTC and Morgan, Lewis & Bockius LLP is the company’s legal counsel. Barclays is the financial advisor to Arena and JMI Equity. Goodwin Procter is acting as their legal counsel.