PTC acquires Arena Solutions
PTC is acquiring Arena Solutions, a provider of SaaS platforms for product lifecycle management (PLM), for $715 million. The acquisition is expected to close in the second quarter of 2021.
So, after the acquisition of Onshape, a CAD system hosted in the cloud, one year ago, now SaaS PLM. Arena Solutions is headquartered in Foster City, California, and is primarily used in the electronics, high-tech and medical device industries.
According to PTC, Arena Solutions' platform combines PLM, quality management and requirements management, enabling the extended supply chain to collaborate in a secure, high-availability cloud environment.
Jim Heppelman is convinced that Corona will increase the demand for cloud solutions, especially in the CAD and PLM environment.