PTC has signed a definitive agreement to acquire ServiceMax for $1.46 billion from Silver Lake.

Field service management company ServiceMax has closed $71 million in Series E financing. The round was led by Meritech Capital, with participation from Kleiner Perkins Caufield & Byers, as well as new investors Cross Creek Advisors, QuestMark Partners, and Sozo Ventures. Existing investors Emergence Capital Partners, Mayfield Fund, Trinity Ventures, Crosslink Capital, Adams Street Partners, and Salesforce, also invested.