Autodesk weighs takeover of engineering software firm PTC, Bloomberg News reports

Autodesk Inc ADSK is evaluating a cash-and-stock deal for rival software maker PTC PTC, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Autodesk's shares fell 2% in trading after the bell.

Autodesk has been working with advisers on a potential deal, the report said, adding that Boston-based PTC is also drawing interest from other industry players.

No final decision has been made and Autodesk could opt against pursuing a deal for PTC, according to the report.

Both the companies did not immediately respond to Reuters requests for comment on the report.

Autodesk's broad portfolio of cloud-based design products is seeing strong adoption from companies across industries ranging from architecture to animation, while its investment in artificial intelligence has further boosted spending.

PTC, which provides software solutions for designing, manufacturing and servicing products across multiple sectors, has seen a demand boost from clients seeking to upgrade their product lineup and maintain competitive edge, alongside companies looking to tap into the AI boom.