PTC

PTC Inc. operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers a set of capabilities that enable enterprises to digitally transform every aspect of their business with innovative solutions that are simple to create, easy to implement, scalable to meet future needs, and designed to enable customers to accelerate time to value; and Vuforia, which enables the visualization of digital information in a physical context and the creation of AR. The company also provides Onshape, a software-as-a-service product development platform unites computer-aided design with data management, collaboration tools, and real-time analytics; Arena, a PLM solution enables product teams to collaborate virtually anytime and anywhere; Creo, a 3D CAD technology enables the digital design, testing, and modification of product models; and Windchill, a product lifecycle management software. In addition, it offers Integrity, an application lifecycle management solution; Servigistics, service parts management solution; and consulting, implementation, training, cloud, and license and support services. The company was formerly known as Parametric Technology Corporation and changed its name to PTC Inc. in January 2013. PTC Inc. was incorporated in 1985 and is headquartered in Boston, Massachusetts.

1985-1999

Russian immigrant and mathematician Samuel P. Geisberg worked at software-design providers Applicon and Computervision prior to forming Parametric Technology Corporation in May 1985. In 1988, the company unveiled its first Unix-based commercial product called Pro/ENGINEER and soon-after landed John Deere as its first customer. Pro/ENGINEER was the first parametric, feature-based solids modeling CAD 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 $3 million in 1988 to $45 million in 1991. The company went public in 1989 with symbol PMTC. In 1992 IndustryWeek named Pro/ENGINEER 'Technology of the Year'. It made the Fortune 500 in 1995 and exceeded $800 million in revenue in 1997. The company made a few acquisitions in the 1990s including CDRS and 3DPaint products from Evans & Sutherland, Rasna Corp., Reflex and DivisionGroup.

In 1998, Parametric acquired the company its founder Geisberg had previously worked for. The company consequently acquired Computervision subsidiaries including Windchill Technology, a Minnesota-based startup co-founded by PTC CEO, James Heppelmann. Later that year, Parametric released its internet-based Windchill Product Lifecycle Management .

2000-2009

In the 2000s, Parametric developed lifecycle management software for products, assets, applications, processes and services through acquiring several companies including Polyplan Technologies, Arbortext, Aptavis Technologies Corp. , NetRegulus, Synapsis Technology, Relex Software and Planet Metrics. It also made a few CAD-related acquisitions including Cadtrain, NC Graphics, Mathsoft , ITEDO Software GmbH and CoCreate.A Y2K-like bug in 2003 was described by The New York Times 20 days before it would have caused a problem.In 2004 the company announced plans "to simplify its product management applications."

2010-2019

On October 1, 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.

Key dates

1985 - Company founded by Samuel Geisberg, formerly from Prime Computer, Computervision, and Applicon.

1988 - Steve Walske named CEO. Company shipped Pro/ENGINEER and was considered first to market with parametric modeling 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 - Caterpillar Inc. becomes PTC's largest customer.

1995 - Rasna, which "develops, markets and supports the Mechanica family of integrated software products for mechanical design."

1996 - PTC acquires Reflex project modeling and management software technology sold the following year to the Beck Group.

1998 - Windchill released for product lifecycle management . PTC acquired Computervision Corp.

1999 - Industries include aerospace, retail/footwear/apparel, automotive, industrial equipment, consumer products, electronics, and high tech.

1999 - Acquired Division Group virtual reality head mounted display amd software

2002 - The company released Pro/ENGINEER Wildfire. This is the first CAD system to support web-based services.

2004 - Acquired OHIO Design Automation. ECAD domain knowledge purchase resulting in what is currently Creo View ECAD.

2005 - Acquired Arbortext for technical publishing technology. Acquired Aptavis for retail, footwear and apparel technology.

2006 - Acquired Mathsoft for its engineering calculation software. Acquired ITEDO for its 3D technical illustration 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 reliability engineering software.

2010 - James E. Heppelmann announced as CEO effective October 1, 2010. Company renames Pro/ENGINEER to PTC Creo.

2011 - Acquired 4CS for its warranty, service, support and service parts technology. Acquired MKS for its application lifecycle management 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.

2013 - Acquired Internet of Things 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 .

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 MBSE tool used in aerospace, transportation, and automotive industries .

2015 - Acquired the Vuforia business from Qualcomm Connected Experiences, Inc., a subsidiary of Qualcomm Incorporated. The Vuforia platform is an augmented reality technology platform.

2015 - Acquired Kepware Technologies, a software development company that provides communications connectivity to industrial automation environments.

2018 - Acquired Waypoint Labs, a startup out of MIT / Harvard that allows frontline experts to capture and transfer knowledge using augmented reality

2018 - Acquired Frustum, a generative design software company which takes advantage of artificial intelligence.

2019 - Acquired Twnkls, a Netherlands-based augmented reality services company.

2019 - Signed Agreement to Acquire Onshape.

2020 - Signed Agreement to Acquire Arena Software.

2022 - Acquired Intland Software for $280 million

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