PTC Strengthens ALM and Systems Engineering Focus with Acquisition of IncQuery Group

Rhea-AI Summary

PTC (NASDAQ: PTC) has announced the acquisition of IncQuery Group, a company specializing in application lifecycle management (ALM) and systems engineering services for global manufacturers and product companies. The acquisition aims to enhance PTC's capabilities in connecting hardware and software engineering systems while improving collaboration across development teams.

IncQuery Group's expertise will support PTC's focus on transforming engineering and product development processes, helping customers develop products faster with higher quality while meeting regulatory and sustainability requirements. The move follows PTC's recent release of Codebeamer® 3.0 ALM solution and development of Codebeamer AI offering.

Positive

• Strategic expansion of PTC's ALM and systems engineering expertise
• Enhancement of product development capabilities for global manufacturers
• Strengthening of PTC's engineering and product development portfolio
• Continuation of ALM momentum following Codebeamer 3.0 release

Negative

• None.

BOSTON, April 2, 2025 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced the acquisition of IncQuery Group.

IncQuery Group offers application lifecycle management (ALM) and systems engineering development and consultancy services to global manufacturers and product companies. IncQuery Group helps simplify the product development process by connecting hardware and software engineering systems and enables better collaboration across development teams and more efficient management of product data. The acquisition further expands PTC's deep expertise in ALM, systems engineering, and product lifecycle management (PLM) and support for customers in these areas.

"A top priority for our customers is transforming their engineering and product development processes to develop their products faster with higher quality, all while meeting regulatory and sustainability requirements," said Neil Barua, President and CEO of PTC. "The acquisition of IncQuery Group strengthens our focus on engineering and product development and adds expertise to help accelerate our ALM and PLM portfolio integrations and better support our customers. We welcome the IncQuery Group team to PTC and look forward to their contributions."

"IncQuery Group shares PTC's commitment to transforming digital engineering and product development processes, and we're thrilled to join the team," said István Ráth, Chairman of the Executive Board of IncQuery Group, and Ákos Horváth, Chief Technology Officer of IncQuery Group. "This is an opportunity to support even more of the world's leading manufacturers and product companies with our systems engineering and ALM expertise, as well as help enhance PTC's leading engineering and product development portfolio."

The acquisition continues PTC's momentum in ALM, following the release of its Codebeamer^® 3.0 ALM solution and the ongoing development of its Codebeamer AI offering.

About

PTC (NASDAQ: PTC) is a global software company that enables manufacturers and product companies to digitally transform how they design, manufacture, and service the physical products the world relies on. Headquartered in Boston, Massachusetts, PTC employs over 7,000 people and supports more than 30,000 customers globally. For more information, please visit www.ptc.com.

Forward-Looking Statements

This news release contains statements about future events and expectations, including the effect of the acquisition on our ALM and PLM portfolio development and integrations, the expected value of the acquisition to our business, and continued enhancement and support for our ALM suite. These statements are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected, including that we may be unable to accelerate our ALM and PLM portfolio integrations or to address customer and product priorities when or as we expect; we may be unable to retain the IncQuery Group employees as we expect, which could disrupt the IncQuery Group business and our ability to successfully integrate and operate the IncQuery Group business; customers may not adopt our ALM solutions as we expect; and other risks and uncertainties described in PTC's filings with the U.S. Securities and Exchange Commission.

Media

Greg Payne
gpayne@ptc.com

Investors

Matt Shimao
mshimao@ptc.com

PTC, IncQuery Group, and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or its subsidiaries in the United States and other countries.

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SOURCE PTC Inc.

FAQ

What is the strategic purpose of PTC's acquisition of IncQuery Group?

PTC acquired IncQuery Group to strengthen its ALM and systems engineering capabilities, enhance portfolio integrations, and help customers transform their engineering and product development processes.

How will IncQuery Group's services benefit PTC's customers?

IncQuery Group's services help simplify product development by connecting hardware and software engineering systems, enabling better team collaboration and more efficient product data management.

What recent product developments has PTC made in the ALM space?

PTC recently released Codebeamer® 3.0 ALM solution and is developing Codebeamer AI offering, showing continued momentum in the ALM sector.

Who are the key executives involved in the PTC-IncQuery Group acquisition?

Neil Barua (PTC CEO), István Ráth (IncQuery Group Executive Board Chairman), and Ákos Horváth (IncQuery Group CTO) are the key executives mentioned in the acquisition.