Number of employees 6,041 (2017) Website PTC Inc. Is a and services company founded in 1985 and headquartered in, Massachusetts. The global technology company has over 6,000 employees in 30 countries, 1,150 technology partners and over $1bn in revenue. The company began initially developing parametric, associative feature-based, solid (CAD) modeling software in 1988, including an Internet-based product for management (PLM) in 1998.
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PTC products and services now include (IoT) and (AR) among others. This article needs additional citations for. Unsourced material may be challenged and removed. Find sources: – ( February 2019) The Russian immigrant and mathematician Dr. Samuel Geisberg worked at software-design providers and (acquired by PTC in 1998) prior to forming Parametric Technology Corporation in May 1985. In 1988, the company unveiled its first commercial product called Pro/ENGINEER and soon-after landed as its first customer.
Pro/ENGINEER was the first parametric, feature-based solids modeling software. Pro/ENGINEER could recognize a change in a single variable of a design and adjust the rest of the model accordingly. Parametric's revenue grew quickly from $3m in 1988 to $45m in 1991. The company officially went in 1989 under the stock ticker PMTC. Parametric continued to gain industry recognition in 1992 with naming Pro/ENGINEER ‘Technology of the Year’ and the company landing its largest customer to-date,. It made the in 1995 and exceeded $800m in revenue in 1997.
The company made a few acquisitions in the 1990s including and products from, and DivisionGroup. In 1998, Parametric acquired the company (Computervision) its founder (Dr. Geisberg) had previously worked for. The company consequently acquired Computervision subsidiaries including Windchill Technology, a Minnesota-based startup co-founded by current PTC CEO, James Heppelmann. Later that year, Parametric shipped Windchill, an internet-based solution for (PLM). PTC announced in 1999 it had 25,000 customers across aerospace, retail/footwear/apparel, automotive, industrial equipment, consumer products, electronics, and high-tech industries. In the 2000s, Parametric developed lifecycle management software for products, assets, applications, processes and services through acquiring several companies including Polyplan Technologies, Corp (Retail PLM), NetRegulus, Synapsis Technology, Relex Software and Planet Metrics.
It also made a few CAD-related acquisitions including Cadtrain, (developers of ), ITEDO Software GmbH and CoCreate. On October 1st, 2010, James Heppelmann assumed the role of President and Chief Executive Officer of Parametric.
The company renamed its initial CAD product Pro/ENGINEER to PTC Creo. The company officially changed its legal name ‘Parametric Technology Corporation’ to PTC Inc and its NASDAQ ticker to ‘PTC’ from ‘PMTC’ in 2013. PTC continued to acquire CAD and PLM-related companies including MKS Software, 4CS Software Solutions, Servigistics, Enigma, NetIDEAS, Atego and Plugin76. In December 2013, the company made its preliminary Internet of Things acquisition with the $112m takeover ThingWorx. PTC continued to acquire IoT companies with the acquisition of IoT connectivity management provider Axeda Corporation for $170m in August 2014, IoT predictive analytics company Coldlight for $105m in May 2015 and industrial connectivity provider Kepware for $100m in January 2016.
The company made its initial outside investment into the Augmented Reality space with the acquisition of Vuforia from Qualcomm in November 2015 and then acquired Waypoint Labs in April 2018. Rockwell Automation made a $1bn equity investment in PTC acquiring 8.4% ownership stake in PTC on June 11, 2018. PTC also announced major strategic partnerships with ANSYS and Microsoft in 2018. Acquisitions. 1985 - Company founded by Samuel Geisberg, formerly from,. 1988 - Steve Walske named CEO.
Company shipped Pro/ENGINEER and was considered first to market with design software. 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. 1989 - Initial public offering. 1992 - becomes PTC's largest customer.
1996 - PTC acquires project modeling and management software technology sold the following year to the. 1998 - Company ships Windchill and is considered first to market with internet-based solutions for (PLM). PTC acquires Computervision Corp. 1999 - PTC announces it has 25,000 customers. Major industries include, //, industrial equipment,. 1999 - Acquired Division Group (Division Ltd, Bristol Uk, Division Inc) Virtual reality - dVision Head Mounted Display & Software.
2002 - The company releases Pro/ENGINEER Wildfire. This is the first CAD system to support web-based services. 2005 - Acquired Arbortext for technology. Acquired Aptavis for retail, footwear and apparel technology.
2006 - Acquired for its engineering calculation software. Acquired ITEDO for its 3D software. 2007 - Acquired CoCreate for its direct modeling technology. 2008 - Acquired Synapsis for its performance analytics technology to improve environmental performance of products.
2009 - Acquired Relex Software for its software. 2010 - James E. Heppelmann announced as CEO effective October 1, 2010. Company renames Pro/ENGINEER to and promises the market product design software that is scalable, open, and easy-to-use. 2011 - Acquired 4CS for its warranty, service, support and service parts technology. Acquired for its technology for all software development processes.
2012 - Acquired Servigistics for its suite of service lifecycle management software. 2013 - Acquired NetIDEAS hosting vendor for more technology deployment options.
Acquired Enigma for its ability to deliver technical content to aftermarket service environments. Acquired platform developer ThingWorx for their software applications that connect and track network-enabled products.
2013 - Acquired ThingWorx, the Exton, Pennsylvania-based creators of an award-winning platform for building and running applications for the Internet of Things (IoT). 2013 - The company changed its legal name from Parametric Technology Corporation to PTC Inc. 2013 - The company changed its NASDAQ ticker symbol to 'PTC' from 'PMTC'. 2014 - Acquired Axeda Corporation. 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).
2015 - Acquired the Vuforia business from Qualcomm Connected Experiences, Inc., a subsidiary of Incorporated. The Vuforia platform is an augmented reality (AR) technology platform. 2015 - acquired, a software development company that provides communications connectivity to environments.
Products & Services PTC has five product segments under two divisions: IoT Group and Solutions Group. The IoT Group consists of its Internet of Things and Augmented Reality business units and the Solutions Group includes CAD, PLM, and SLM. Internet of Things PTC's offerings for the Internet of Things include many of its previously acquired technologies including its Industrial Internet of Things Platform, ThingWorx. ThingWorx is based on ThingWorx Foundation, an application enablement platform used as a design and runtime engine for IoT applications.
It also includes ThingWorx Analytics, Thingworx Industrial Connectivity, and Vuforia studio. ThingWorx Industrial Connectivity includes library of over 150 device drivers and industrial protocols to connect industrial machinery to the ThingWorx platform. ThingWorx Analytics is the IoT data analysis engine for real-time pattern and anomaly detection, automated predictive analysis and contextualized recommendations. The PTC Marketplace allows customers to bolt-on PTC and/or third-party applications from PTC partners to their IoT deployments. Over 800 partners and 550,000 developers in PTC's Global Partner Ecosystem use ThingWorx.
Augmented Reality PTC's Augmented Reality offerings include the Vuforia Engine, An AR Platform with over 425,000 developers and 50,000 AR applications. Vuforia Studio is the AR authoring application and Vuforia Chalk enables a user to draw virtual images overlaid on physical systems. PTC also acquired Waypoint technology which captures digital workflows through AR annotation tools. PTC Creo. Main articles:, and The PTC Creo suite includes product design and engineering software solutions.
Creo runs on Microsoft Windows and provides apps for 3D CAD parametric feature solid modeling, 3D direct modeling, 2D orthographic views, Finite Element Analysis and simulation, schematic design, technical illustrations, and viewing and visualization. Creo integrates with PTC's other product development solutions including Windchill, Mathcad, and Arbortext. Mathcad is used to solve, analyze, and share engineering calculations. PLM Windchill PLM includes a portfolio of different PLM capabilities to create a 'single source of truth' for all product-related information such as CAD models, documents, technical illustrations, embedded software and calculations. Windchill products include Windchill ProjectLink, Windchill PDMLink, Windchill CAPA, Windchill Service Parts, Windchill SociaLink, Windchill Utilities, FlexPLM for retail, Integrity Lifecycle Manager, Integrity Modeler, Integrity Process Director and integrations for IoT ( ThingWorx Navigate) and CAD ( Creo View). Windchill has over 1.5m users.
SLM The Servigistics product integrates service planning, delivery and analysis to optimize service outcomes by providing a single view of service. Servigistics Arbortext enables manufacturers to create, illustrate, manage and publish technical and service parts information. 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, CoCreate,. 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. Main article: Engineering calculation software that is used by engineers to solve, document and share the calculations used for product design. Archived from on 2 February 2014. Retrieved 21 January 2014. Retrieved 21 January 2014. Retrieved 21 January 2014.
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