PTC completed the acquisition of Arena Solutions from JMI Equity for $715m.

PTC, a company that enables global manufacturers to realize double-digit impact with software solutions, completed the acquisition of Arena Solutions, a SaaS PLM company, from JMI Equity for $715m. "This acquisition is the logical next step in PTC's strategy to be the industrial SaaS leader. A big first step was the acquisition of Onshape, the SaaS leader in CAD and collaborative design capabilities. Arena will enable us to round out the solution with full PLM capabilities and deliver the only complete CAD + PLM SaaS solution in the industry," Jim Heppelmann, PTC President and CEO.