PTC buys Enigma to enhance its service lifecycle management portfolio

Jonathan Yaron. Photo taken from Enigma’s website.
Jonathan Yaron. Photo taken from Enigma’s website.

PTC Inc., a Needham company specializing in product lifecycle management and computer-aided design software, said it has acquired Enigma, a small Burlington company that makes complementary software.

Terms of the acquisition are not being disclosed; nor are Enigma’s revenues.

Although it has its corporate offices in offices in Massachusetts, Enigma has much of its research-and-development and engineering staff in Israel. Expanding its footprint in Israel was among the reasons why Enigma was an attractive acquisition target, PTC said.

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Enigma has a total headcount of just under 100 employees.

Both PTC and Enigma specialize in something called service lifecycle management, or SLM, software. The acquisition will enhance PTC’s existing portfolio of SLM products, PTC said in its press release.

“The addition of Enigma technology to the PTC solution suite will expand companies’ ability to deliver the best possible product performance and service experience to their customers,” Lee Smith, a PTC divisional vice president, said in a statement. “Our combined solution will get the right information to the right person at the right time – regardless of the information’s origin.”

In a separate statement, Enigma chief executive Jonathan Yaron added: “We share PTC’s vision of providing best-in-class solutions that help customers reduce costs and provide faster and more personalized service. Our customers will benefit from the vision, commitment, and resources of our combined companies.”