PTC Buys MKS

4/13/11Follow @xconomy

PTC (NASDAQ: PMTC), a Needham, MA-based maker of product development software, said it has agreed to acquire MKS (TSX: MKXX) for CDN$26.20 per share in cash, for a total purchase price of CDN$292.5 million. MKS  makes application lifecycle management technology for tracking the production of software-intensive products, by managing elements like requirements, models, and testing. PTC said the acquisition is expected to close this June, and will be neutral to PTC’s fiscal year 2011 non-GAAP results and slightly accretive to its non-GAAP financial results the next fiscal year.

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