PTC noted manufacturing firms utilize pure::variants, a solution provided by pure-systems, to effectively handle the diverse software and systems engineering assets within their product configurations.

Prior to the acquisition, PTC and pure-systems had already partnered, with pure::variants integrated into PTC's Codebeamer ALM and Windchill PLM solutions.

Pure-systems' inclusion is set to boost PTC's standing in the booming ALM market, spur further ALM growth, and strengthen ties with regulated industry customers like automotive, aerospace, and medical device manufacturers.

PTC held cash and equivalents of $282 million as of June 30, 2023.

Price Action: PTC shares traded higher by 0.71% at $138.82 on the last check Wednesday.