ServiceMax, a company providing asset-centric field service management software, announced a merger agreement with Pathfinder Acquisition that values the combined enterprise at $1.4 billion.
If approved, upon closing ServiceMax will list on the Nasdaq under SMAX.
The transaction is expected to deliver approximately $335 million of gross proceeds to the combined company from the cash held in Pathfinder’s trust account, assuming no redemptions, and including proceeds from a strategic common equity investment by software companies PTC and Salesforce Ventures at the same valuation as the business combination transaction.
The combined proceeds will be used to support the company’s growth, including the acquisition of LiquidFrameworks for $145 million in cash.
Existing ServiceMax investors Silver Lake, Salesforce Ventures, and GE are retaining their full equity ownership in ServiceMax.
The deal is expected to close in the fourth quarter. Read more.
