ServiceMax to go public via a SPAC merger with Pathfinder Acquisition in a $1.4bn deal.

ServiceMax, a provider of asset-centric field service management, agreed to go public via a SPAC merger with Pathfinder Acquisition, a special purposes acquisition company, in a $1.4bn deal. Existing ServiceMax investors Silver Lake, Salesforce Ventures, and General Electric are retaining their full equity ownership in ServiceMax. “ServiceMax enables life as we know it to happen, uninterrupted, by empowering some of the world’s biggest and most well-known suppliers, distributors, and manufacturers to provide consistent and reliable service to their customers. We’ve seen Original Equipment Manufacturers and operators increase their focus on digital transformation and we believe that ServiceMax is well positioned to support those needs by leveraging our 10+ years of focus on complex service management for mission critical equipment, and by innovating and delivering on a differentiated product strategy and roadmap. We believe this transaction with Pathfinder will allow us to accelerate growth and capture more opportunities within this growing $9bn market," Neil Barua, ServiceMax CEO.