* Raises full-year adj earnings forecast by 2 cents to 5
cents per share
* Parametric expects to draw on its credit facility to fund
* Sees deal to be completed in Sept. 2012
Aug 8 Product-design software maker Parametric
Technology Corp said it would buy privately held
Servigistics Inc for about $220 million in cash, to beef up its
web process management offerings and the company raised its
full-year earnings forecast.
Parametric raised its 2013 adjusted earnings forecast by a
range of 2 cents to 5 cents per share. It had previously
forecast adjusted earnings of between $1.70 and $1.80 per share.
Analysts on average were expecting the company to earn $1.74
per share, according to Thomson Reuters I/B/E/S.
Parametric, which makes software used to create 3-D computer
models for aircraft engines, cars and mobile phones expects to
draw on its credit facility to fund the transaction.
Servigistics, which generated about $80 million in revenue
last year, provides software which help companies manage parts
and logistics. Its customers include Dell Inc,
Hewlett-Packard Co and Lockheed Martin.
Parametric expects the deal to be completed in September
The company's shares closed at $22.41 on Tuesday on the