secwatch.observer — SEC 8-K summary
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Issuer:     PTC INC. (PTC)
CIK:        0000857005
Form:       8-K
Filed at:   2022-11-17T23:59:59+00:00
Accession:  0001193125-22-287299
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PTC acquires ServiceMax for $1.458 billion in cash, payable in two installments
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- Total consideration $1.458B: $808M at close, $650M due Oct 2, 2023, subject to adjustments.
- ServiceMax expected to contribute ~$160M ARR to PTC's Q2'23 ARR.
- FY'24 free cash flow target reaffirmed at $700M-$750M; FY'25 target $825M-$875M inclusive of ServiceMax.
- Funded by cash on hand, existing credit, and new $500M term loan plus $1.25B revolving/term facilities.
- Expected to close early Q2 FY2023, subject to HSR and other customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/857005/000119312522287299/0001193125-22-287299-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/857005/000119312522287299/d396117d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-287299

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