MKS completes C$292.5 million sale to Parametric Technology Corporation
Date Closed
May 31, 2011
Lead Office
Toronto
Value
292.50 Million CAD
On May 31, 2011, Parametric Technology Corporation (“PTC”) acquired all of the outstanding shares of MKS Inc. (“MKS”) pursuant to a plan of arrangement under the Business Corporations Act (Ontario). Under the arrangement, an indirect wholly-owned subsidiary of PTC acquired each common share of MKS for C$26.20 in cash, representing an aggregate purchase price of approximately C$292.5 million. In connection with the arrangement, the common shares of MKS were delisted from the Toronto Stock Exchange.
MKS Integrity coordinates and manages all activities and artifacts associated with developing software-intensive products, including requirements, models, code and test, ensuring comprehensive lifecycle traceability. By combining MKS Integrity with PTC’s industry-leading product lifecycle management (PLM) solutions, PTC is reshaping the way manufacturers integrate product hardware and software, enabling them to improve product quality, accelerate time-to-market, and reduce risk and total service costs.
PTC, headquartered in Needham, Massachusetts, is a computer software company specializing in 2D & 3D design software, product lifecycle management, and service management solutions.
McCarthy Tétrault LLP represented MKS, the target, with a team led by Jonathan Grant.