By Svea Herbst-Bayliss
NEW YORK (Reuters) – Software design maker Autodesk said in a regulatory filing on Monday that it plans to pursue its “strategic priorities” and make only “targeted and tuck-in acquisitions,” suggesting there will be no deal with software firm PTC.
San Francisco-headquartered Autodesk’s stock lost nearly 12% late last week amid speculation it was considering buying computer software and services company PTC Inc.
Monday’s one-paragraph filing did not mention Boston-based PTC by name but left no doubt that any deal that might have been in the works to combine the two companies is now off the table.
“We are confident in our plans to drive long-term shareholder value,” the company said, adding it will pursue its established strategic priorities in cloud, platform, and AI. It will also allocate capital to organic investment, targeted and tuck-in acquisitions, and continuing its share repurchase program as free cash flow grows, the filing says.
(Reporting by Svea Herbst-Bayliss; Editing by Chizu Nomiyama)
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