PTC (NASDAQ: [[ticker:PMTC]]), a Needham, MA-based maker of product development software, said it has agreed to acquire MKS (TSX: [[ticker:MKXX]]) for CDN$26.20 per share in cash, for a total purchase price of CDN$292.5 million. MKS makes application lifecycle management technology for tracking the production of software-intensive products, by managing elements like requirements, models, and testing. PTC said the acquisition is expected to close this June, and will be neutral to PTC’s fiscal year 2011 non-GAAP results and slightly accretive to its non-GAAP financial results the next fiscal year.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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