Pathfinder Acquisition filed an S-4 and preliminary proxy/prospectus outling its deal with ServiceMax, a SaaS a company providing asset-centric field service management software.
The transaction values the combined enterprise at $1.4 billion.
If approved, upon closing ServiceMax would 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 proceeds from a strategic common equity investment by software companies PTC and Salesforce Ventures at the same valuation as the business combination transaction. Pathfinder raised $300 million in a February IPO.
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. Read more.
