ServiceMax has agreed to merge with a special-purpose acquisition company in a deal that will take the maker of software for field-service technicians public, officials from the companies said.

The software company—whose current owners include private-equity firm Silver Lake, General Electric Co. 

 and the venture arm of business-software giant 

 —will merge with Pathfinder Acquisition Corp. 

 in a deal that values ServiceMax at about $1.4 billion. The companies expect to unveil the transaction later Thursday.

ServiceMax has also inked a deal to buy LiquidFrameworks Inc., which provides field-service software to the oil-and-gas industry, from private-equity firm Luminate Capital Partners, for $145 million. It will finance the deal out of the roughly $335 million in cash proceeds resulting from the merger with Pathfinder.

SPACs raise money by going public as empty shells and then have a set period, usually two years, to find a business to merge with. The strategy, which can be quicker and have fewer regulatory hurdles than a traditional initial public offering, surged in popularity last year but enthusiasm has cooled of late.

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