Autodesk signals it will no longer pursue PTC acquisition, shares rise

  • Autodesk Inc (NASDAQ:ADSK) shares gained almost 6% on Monday after the company signalled it has dropped its pursuit of acquiring PTC Inc (NASDAQTC), a fellow engineering software firm valued at about $23 billion. In a filing with the Securities and Exchange Commission (SEC), Autodesk said it will be focused on its strategic priorities, indicating there will be no deal with PTC without mentioning the Boston-based firm by name.