ITC’s arm to acquire portion of PTC's PLM implementation services business
22nd Apr 2022

ITC’s subsidiary company -- ITC Infotech is planning to acquire a portion of Nasdaq-listed PTC's product lifecycle management (PLM) implementation services business as part of a pact between the two firms to accelerate customer digital transformation initiatives.

The two partners inked an agreement to accelerate customer digital transformation initiatives, focused on the adoption of PTC's ‘Windchill’ PLM software as a service (SaaS). With the acquisition, the company will create a new business unit of ITC Infotech, called DxP Services, which will combine PLM professional services experts from both firms into a unified team dedicated to creating, and jointly offering, the tooling and methodologies required to expedite a smooth transition to SaaS.

This new agreement with ITC Infotech will allow PTC to realign its own professional services experts to a unique thought leadership role in the industry in enabling digital transformation for industrial companies across engineering, manufacturing, and service.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.