![]() ![]() These transactions coincide with Verdantix assessments on how the asset management software market is shifting toward integrated solutions covering more of the asset life cycle. Hexagon’s, Siemens’s and PTC’s acquisitions effectively enter them into new software markets, with the same or similar clientele. Of these, only the IFS and Ultimo transaction should be classified as a horizontal acquisition that is, IFS was removing a competitor, albeit while bolstering its EAM capabilities. PTC’s $1.5 billion acquisition of field service management (FSM) software provider ServiceMax, undertaken to extend PTC’s offerings beyond product lifecycle management (PLM), also speaks to the investment appetite in this space. The purchase kicked off a trend across the industrial asset management software market, with Siemens’s $1.6 billion purchase of Brightly Software and IFS’s purchase of Ultimo both following in mid-2022. Hexagon entered the enterprise asset management (EAM) software market in blockbuster fashion when it acquired Infor’s EAM division for $2.8 billion in mid-2021. Hexagon’s Digital Asset Rebrand Capitalizes On Digitization Of Plant Operations ![]()
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