Parametric Technology Corp., a Needham company specializing in product lifecycle management software, said Wednesday that it has agreed to acquire Servigistics Inc. for about $220 million.
Parametric, which refers to itself as PTC, said the acquisition will enhance its portfolio of offerings, which include capabilities in warranty and contract management, service parts definition, and technical information, including mobile delivery.
In a statement, chief executive Jim Heppelmann said, “This acquisition should make clear just how serious PTC is about helping its customers achieve lasting service advantage.”
Servigistics is a privately held Atlanta company.