Autodesk Inc. is no longer pursuing an acquisition of Boston-based PTC Inc., people familiar with the matter said, which would have ranked as one of the year’s largest deals. The software provider has decided to shelve its work on a potential cash-and-stock deal for PTC,

Shares of Autodesk climbed 5.6% to $296.14, while PTC stock declined 1.7% to $190.27. PTC didn’t immediately respond to a request for comment from Barron’s. An Autodesk spokesperson directed Barron’s to the SEC filing, saying it contained the company’s “full statement” on the matter.

Autodesk (NASDAQ:ADSK) is no longer considering an acquisition of Boston-based software company PTC (NASDAQ:PTC), Bloomberg News reported, citing people with knowledge of the matter. Autodesk has decided to drop its work on a potential cash-and-stock deal for PTC,