Quickie: PTC adds to codeBeamer to its ALM offer

Apr 20, 2022 | Hot Topics

PTC just announced that it is acquiring Intland Software, maker of codeBeamer Application Lifecycle Management (ALM), for roughly $280 million. PTC says codeBeamer is a “flexible and modern, easy-to-use interface. codeBeamer provides customers with requirements-, risk-, and test-management capabilities, while supporting contemporary agile software development and integrating with the best-in-class DevOps and source code management tools that software developers love. codeBeamer pre-built templates and partner integrations make it easier for customers to meet the stringent requirements common in regulated industries”.

Thought PTC already had an ALM offering? Me too. PTC CEO Jim Heppelmann explains the acquisition this way: adding 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. This acquisition will also complement our strengths in PLM and model-based systems engineering as part of our Digital Thread portfolio strategy.”

PTC says it will offer standalone codeBeamer as well as in conjunction with Windchill and Arena PLM, and to continue to enhance and support its existing ALM solution. Not sure what “in conjunction” means here — perhaps offering codeBeamer templates as add-ons for PLMish DIY? I’ve asked; will update if I get more details.

The deal is expected to close during the company’s fiscal third quarter (meaning, by June 30) and will be funded with cash on hand plus amounts borrowed under PTC’s existing credit facility. We’ll learn more during PTC’s fiscal Q2 earnings call on April 27.