Footnotes / references Financials as of September 30, 2023[update].[1]
PTC Inc. (formerly Parametric Technology Corporation) is a computer software and services company founded in 1985 and headquartered in Boston, Massachusetts. The company was a pioneer in parametric, associative feature-based, solid computer-aided design (CAD) modeling software in 1988, including an Internet-based product for Product Lifecycle Management (PLM) in 1998. PTC (NASDAQ: PTC) markets products and services and an Internet of Things (IoT) and augmented reality (AR) platform for partners and developers.
PTC has six core product families: Creo, Windchill, Mathcad, Integrity, Servigistics, ThingWorx, ServiceMax, Arbortext Editor. The company's technology is primarily used by discrete manufacturers to design, operate and maintain complex products. PTC's technology is also used to connect products to the Internet for the purposes of capturing and analyzing information from them.[2]
The PTC CAD product provides a set of Computer Aided Design capabilities. PTC CAD is a suite of 2D and 3D product design software used to create, analyze and view product designs. PTC Creo software was released in June 2011 to replace and supersede PTC's products formerly known as Pro/ENGINEER, CoCreate, and ProductView.[3] Other products include:
CREO parametric - formerly Pro/ENGINEER
CREO simulate - formerly Pro/MECHANICA
CREO direct - formerly CoCreate OneSpace Modeling
CREO options modeler
CREO illustrate schematics
CREO view
CREO illustrate
PTC Mathcad - Engineering calculation software that is used by engineers to solve, document and share the calculations used for product design.[4]
Web-based database software that provides access to product information like MCAD and ECAD data files, process documents, and software engineering information.[5] The PTC Windchill product provides a set of PLM Product Lifecycle Management capabilities and consists of the following products:
Service lifecycle management SLM software that is used by manufacturers to understand how service planning, customer service, and analysis of returned product data can improve service value over a product's life.[7] PTC SLM productset includes:
Servigistics Inservice - formally Enigma
Servigistics Arbortext - formally Arbortext[8] without Servigistics
A platform for the rapid development of applications designed for smart, connected sensors, devices, and products – or the Internet of Things.[9]
Axeda - A cloud-based service and software for managing connected products and machines and implementing Machine-to-Machine (M2M) and Internet of Things (IoT) applications.[10][9]
1985 - Company founded by Samuel Geisberg, and Mike Payne formerly from Prime Computer, Computervision, and Applicon.[11] 1988 - Steve Walske named CEO.[12] Company shipped Pro/ENGINEER and was considered first to market with parametric modeling design software.[13] This positions PTC as a leader in the CAD industry until the mid-1990s when a new generation of low-cost competitors arrive in the market.[14] 1989 - Initial public offering. (Nasdaq: PMTC)[15] 1992 - Caterpillar Inc. becomes PTC's largest customer.[14] 1996 - PTC acquires Reflex project modeling and management software technology[16] sold the following year to the Beck Group. 1998 - Company ships Windchill and is considered first to market with internet-based solutions for Product Lifecycle Management (PLM).[14] 1999 - PTC announces it has 25,000 customers. Major industries include aerospace, retail/footwear/apparel, automotive, industrial equipment, consumer products, electronics, and high tech.[17] 1999 - Acquired Division Group (Division Ltd, Bristol Uk, Division Inc) Virtual reality - dVision Head Mounted Display & Software [18][19][20][21]
2002 - The company releases Pro/ENGINEER Wildfire.[22] This is the first CAD system to support web-based services.[14] 2005 - Acquired Arbortext for technical publishing technology.[23] Acquired Aptavis for retail, footwear and apparel technology.[24] 2006 - Acquired Mathsoft for its engineering calculation software.[25] Acquired ITEDO for its 3D technical illustration software.[26] 2007 - Acquired CoCreate for its direct modeling technology.[27] 2008 - Acquired Synapsis for its performance analytics technology to improve environmental performance of products.[28] 2009 - Acquired Relex Software for its reliability engineering software.[29] 2010 - James E. Heppelmann announced as CEO effective October 1, 2010.[30] Company renames Pro/ENGINEER to PTC Creo and promises the market product design software that is scalable, open, and easy-to-use.[31] 2011 - Acquired 4CS for its warranty, service, support and service parts technology.[32] Acquired MKS for its application lifecycle management technology for all software development processes.[33] 2012 - Acquired Servigistics for its suite of service lifecycle management software.[34] 2013 - Acquired NetIDEAS hosting vendor for more technology deployment options.[35] Acquired Enigma for its ability to deliver technical content to aftermarket service environments.[36] Acquired Internet of Things platform developer ThingWorx for their software applications that connect and track network-enabled products.[37] 2014 - Acquired Axeda Corporation [38] 2014 - Acquired ATEGO Software, a leader in MBSE (model-based systems engineering) tool used in aerospace, transportation, and automotive industries (such as Alstom Transport and Rolls-Royce Defence) [39]
DENC AG and Cadtrain Inc. in late 2005 for an aggregate of $10 million. DENC adds a German consulting practice with expertise integrating PTC applications with enterprise-resource-planning software. Irvine, Calif.-based Cadtrain provides online training modules for PTC software.[44]
Aptavis Technology Corp, Windchill-based technology and expertise for retail, footwear and apparel, in June 2005[45]
ITEDO Software GmbH in October 2006 for $17 million. ITEDO developed technical illustration software and had 34 employees mainly in Germany and the United States.[47]
Atego (company), a developer of model-based systems and software engineering applications based in Cheltenham, UK for approximately $50 million in cash in July 2014 [57]
Axeda Corporation - a leader in the M2M / IoT space connecting things with people and other things, based in Foxborough, MA for approximately $170 million in cash in August 2014
Coldlight in 2015
Vuforia in 2015
Kepware in 2015 for approximately $100 million, plus up to an additional $18 million based on achievement of certain strategic initiatives and financial results.
In 1999, PTC created a Global Academic Program designed to support educational initiatives in science, technology, engineering, and math (STEM) skills. The program aims to partner schools and universities with companies to assist students in developing real-world skills needed for careers in manufacturing, technology, and other STEM jobs.[60] The program also has a direct recruitment program intended to place students in jobs with PTC's commercial customers.[60]
US$2.10 billion (2023)
US$246 million (2023)
