ITC Infotech buys part of PTC’s lifecycle consulting

Published By: The Hindu Business Line  |  Published On: June 2, 2022

ITC Infotech has acquired a part of Nasdaq-listed PTC product lifecycle management (PLM) consulting and professional services business, including about 160 PLM consultants and services experts, and created a new business unit, DxP Services, which will house the PLM professionals of both companies. The overall commitments of ITC Infotech was estimated at about $115 million, of which $33 million in cash will go to PTC at the closing of the transaction, with the remainder consisting of a mix of committed and contingent items deliverable over a period of five years, in accordance with the terms of the agreement.

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