Bengaluru
ITC Infotech announced it will acquire a portion of Boston-based technology company PTC’s Product Lifecycle Management (PLM) implementation services business and create a new entity – DxP Services.
The new entity would bring together PLM professional services experts from both companies, ITC’s tech arm said in a statement on Friday.
In this regard, both companies had entered into an agreement to accelerate customer digital transformation initiatives focused on the adoption of PTC’s industry-leading Windchill PLM software as a service (SaaS).
The companies would work together to provide “in-flight” Windchill implementation services to a wide range of existing PTC customers, while enabling a growing number of customers to transition from their existing, sometimes highly customized, on-premises Windchill implementation to the next enable generation, best-practice SaaS, said ITC Infotech.
Sudip Singh, MD and CEO of ITC Infotech said, “The creation of DxP Services will take our relationship to a whole new level and enable PTC customers to transform the way they use technology in the distributed, secure and agile workplace of the to use the future to change .”
Under the terms of the agreement, ITC Infotech and PTC will bring together professionals from both companies into a unified team dedicated to developing and co-deploying the tools and methodologies required for a smooth transition to SaaS.
This new agreement with ITC Infotech would allow PTC to position its own professional services professionals in a unique industry thought leadership role by enabling digital transformation for industrial engineering, manufacturing and service companies, said Jim Heppelmann, President and CEO of PTC.
ITC Infotech and PTC have worked together for over 20 years. The transaction is expected to close in Q3 2022.
