NEW YORK, July 14 (Reuters) - Software design maker
Autodesk ( ADSK ) said in a regulatory filing on Monday that it
plans to pursue its "strategic priorities" and make only
"targeted and tuck-in acquisitions," suggesting there will be no
deal with software firm PTC.
San Francisco-headquartered Autodesk's ( ADSK ) stock lost nearly
12% late last week amid speculation it was considering buying
computer software and services company PTC Inc. ( PTC )
Monday's one-paragraph filing did not mention Boston-based
PTC by name but left no doubt that any deal that might have been
in the works to combine the two companies is now off the table.
"We are confident in our plans to drive long-term
shareholder value," the company said, adding it will pursue its
established strategic priorities in cloud, platform, and AI. It
will also allocate capital to organic investment, targeted and
tuck-in acquisitions, and continuing its share repurchase
program as free cash flow grows, the filing says.