SAFEGUARD SCIENTIFICS PARTNER COMPANY THINGWORX ACQUIRED BY PTC FOR $112 MILLION

Wayne, PA, December 30, 2013 — Safeguard Scientifics, Inc. (NYSE:SFE) today announced that its partner company ThingWorx, Inc. was acquired by PTC Inc. for approximately $112 million, plus an earn-out of up to $18 million. Safeguard expects to receive aggregate cash proceeds of $40.5 million, representing a 4x cash-on-cash return. Approximately $4.1 million of such proceeds will be held in escrow pending the expiration of an escrow period expiring December 30, 2015. Safeguard has the opportunity to receive up to an additional $6.5 million based on certain milestones achieved over future periods. This would increase Safeguard’s total return to approximately $47.0 million, representing a 4.7x cash on cash return.

Full press release can be found here:   Safeguard – ThingWorx Acquired by PTC

Heather R. Hunter
Director, Marketing Communications
O 610-975-4923
C 215-531-2225
F
610-672-9848
435 Devon Park Drive, Building 800, Wayne, PA 19087
hhunter@safeguard.comwww.safeguard.com

 

 


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