PTC (NASDAQ: PTC) today announced that it has completed its acquisition of ServiceMax from an entity majority owned by Silver Lake. The acquisition adds important field service management (FSM) capabilities to PTC's closed-loop product lifecycle management (PLM) and digital thread offerings. ServiceMax provides a comprehensive suite of cloud-native FSM capabilities for servicing complex long-lifecycle products, including managing information about serviced products, creating and managing work orders, and scheduling and dispatching technicians. Product manufacturers increasingly view their product-related service offerings as an important business strategy for maintaining product performance, increasing customer satisfaction, driving revenue growth, and expanding profitability.