Multidisciplinary Team Represents PTC in Acquisition of Onshape

A Locke Lord team including Private Equity and M&A Partner Andrew Hughes (Providence) and Intellectual Property Partner Mike Bennett (Chicago) represented PTC Inc. in its Nov. 1, 2019, acquisition of Onshape Inc. for approximately $470 million in cash, net of cash acquired. PTC, a leading software developer for the CAD, PLM, and Internet of Things markets, expects the acquisition of the Onshape Software as a Service (SaaS) product development platform to position it to capitalize on the industry transition to SaaS. The Locke Lord team included lawyers from nine U.S. and foreign offices, bringing to bear extensive experience in M&A, intellectual property, benefits, tax, antitrust, representations and warranties insurance, securities, commercial finance, international trade and employment law. Additional assistance was provided by Chris Flanagan, Jim Rubens, Walter Rodriguez, Brandon Curtin, Ben Ferrucci, Richard Glovsky, John Whitlock and Leigh Cummings (all of Boston), Lori Basilico, Joe Farside, Paul Mahoney and Gene McDermott (all of Providence), Ted Augustinos (Hartford), Berne Kluber (Houston), Barry Bendes (New York), Chris Capelli (Stamford), and Jamie Mei Cheng (Los Angeles).
Posted on November 5, 2019