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Investing.com -- PTC Inc. (NASDAQ:PTC) stock soared 9% while Autodesk Inc . (NASDAQ:ADSK) shares fell 2% after Bloomberg reported that Autodesk is considering acquiring the rival engineering-software provider.
According to people familiar with the matter, Autodesk has engaged advisers to evaluate a potential cash-and-stock transaction for Boston-based PTC. The sources, who requested anonymity because the discussions are private, indicated that PTC is also attracting interest from other companies in the industry.
Both companies compete in the engineering software market, with overlapping products in computer-aided design (CAD) and product lifecycle management (PLM) solutions. A potential combination would consolidate market share in the industrial software sector.
The stock movements reflect investor reactions to the potential deal, with PTC shareholders responding positively to the takeover speculation while Autodesk investors showed concern about the financial implications of a major acquisition.