(Bloomberg) -Autodesk Inc. weighs a takeover of rival engineering software provider PTC Inc., according to people who are familiar with the issue.
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Autodesk has collaborated with advisers to evaluate a cash-and-stock deal for PTC in Boston, said that the people who asked not to be identified because the case is not public. PTC, with a market value of around $ 23 billion, also attracts interest from other players in the industry, the people said.
No final decision was made and Autodesk could opt for the pursuit of a deal for PTC, the people added. A representative for PTC refused to comment. A representative for Autodesk could not be achieved for comment.
The deal comes against a background of steady consolidation in the industrial software, where the demand is expected to grow with the increased approval of artificial intelligence. Siemens AG agreed last year for software maker Altair Engineering Inc. To be purchased for a operating value of $ 10 billion, while Synopsys Inc. agreed to software developer Ansys Inc. To buy for around $ 34 billion in a deal that is still waiting for approval of antitreulent regulators in China.
“De gerapporteerde interesse van Autodesk in productie-software rivaal PTC wordt waarschijnlijk aangedreven door een behoefte aan schaal-een cruciale factor voor het handhaven van de winstgevendheid en het bijhouden van marktleiders Dassault Systèmes en Siemens-Altair,” zei Bloomberg Intelligence-analisten Niraj Patel en Maria Beltran in een onderzoeksnota donderdag.
This deal would give Autodesk a share of 17% of the $ 19 billion production software market, which would probably not be against the antitreulent regulations, they said in a separate memorandum on Wednesday.
PTC, who rose no less than 19% on Wednesday, fell by 7.4% at 10:35 am in New York who traded on Thursday. Autodesk fell by 6.9%, giving it a market value of around $ 61 billion.
Founded in the 1980s, the PTC software helps to design complex products, including aircraft, computers and medical devices, according to its website. The company, which used to be Rockwell Automation Inc. If an old investor counted, in 2023 a deal to buy Servicemax for $ 1.46 billion from Silver Lake. That deal applied the current Chief Executive Officer Neil Barua, who replaced James Heppelmann last year.
Activist Investorstarboard value built an interest in Autodesk earlier this year and has insisted on changes to the board because of concerns about the performance of the software company and how it was with a accounting probe. Autodesk makes industrial design and operating software, serving industries, including architecture, construction and production.
