Product Development Company (PTC), has announced it has entered into a definitive agreement to acquire Arbortext, Inc., an enterprise publishing provider, for $190 million in cash. Arbortext serves 1,700 customers worldwide in multiple industries, including discrete manufacturing, life sciences, financial services, insurance, publishing and government. The transaction is expected to close by the end of July 2005, subject to customary conditions including regulatory approval. The transaction has been approved by Arbortext shareholders. PTC expects the acquisition will be accretive to earnings in fiscal 2006.