Parametric Technology Corporation
||A major contributor to this article appears to have a close connection with its subject. (November 2011)|
|Traded as||NASDAQ: PMTC|
|Industry||CAD/CAM/CAE/ PLM Software|
|Headquarters||Needham, Massachusetts, USA|
|Key people||James E. Heppelmann, CEO
C. Richard Harrison, Executive Chairman
Brian Shepherd, Executive President (Product Management)
|Products||CAD, PLM, See complete products listing.|
|Revenue||$1,010 million USD (2010)|
Parametric Technology Corporation (PTC) is a U.S.-based company that develops, markets and supports software for product development. Its main products are for CAD/CAM, engineering calculations, and product lifecycle management. Its customers include companies in manufacturing, publishing, services, government and life sciences industries. PTC is listed in the S&P Midcap 400. It is also in the Russell 2000 index. Its tagline is "Product And Service Advantage"
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Initially, PTC was company formed around achieving hardware independence for Pro/ENGINEER. From this, an ongoing commitment was formed to ensure interoperability and open standards in all PTC products. PTC has released a pure Internet architecture for product data management and collaboration, its Windchill software. Currently, PTC's core product families (above) are offered as one integrated suite, dubbed The Product Development System.
PTC was founded in 1985, by Samuel Peisakhovich Geisberg, who previously worked at Prime Computer, Computervision (CV) and Applicon. Pro/ENGINEER (a.k.a. Pro/E), the company's first product, shipped in 1988. John Deere became PTC's first customer.
Once an initial version of Pro/ENGINEER was developed, the company received venture capital funding from Charles River Associates and Steve Walske became the CEO. Pro/ENGINEER was the first commercially successful parametric feature based solid modeler. Through a combination of innovative technology, and no-holds-barred sales tactics, PTC quickly became a major force in the CAD industry. Its strong ascent continued unabated until the mid-1990s, when the introduction of Microsoft Windows NT, and the availability of commercial geometric modeling libraries opened the door to a new generation of low-cost competitors and PTC's reputation for overly aggressive sales tactics alienated many of its customers. These competitors, symbolized by Solidworks, squeezed PTC from the bottom, while more established companies like Unigraphics and IBM held the 'high ground' in automotive and aerospace industries. PTC's sales began a multi-year decline from which it took years to recover. It took a new CAD product (Pro/ENGINEER Wildfire) and an expanded product line, but PTC has been able to transform itself over the past 10 years into the third largest provider of Product Lifecycle Management software.
On December 29, 2006 Standard & Poor's bumped PTC off its S&P 500 Index, and replaced it instead with the newly spun off natural gas company Spectra Energy Corp. (NYSE: SE). Parametric then bumped Pier 1 Imports Inc. (NYSE: PIR), a retailer of home furnishings, down one spot and off the bottom of the S&P MidCap 400 Index. In 2008, PTC once again achieved revenues of over $1 billion, something it had not been able to accomplish since 1999.
Companies acquired by PTC 
- CDRS and 3DPaint from Evans & Sutherland on April 12, 1995 for $33,507,000.
- Rasna Corp., developers of MECHANICA design optimization and simulation software, in May 1995 for $180 million.
- Computervision, developers of CADDS, MEDUSA and the MPDS Plant Design System in 1998 
- Polyplan, Technologies acquired 2005 for Manufacturing Process Management
- Arbortext, developers of Arbortext, in 2005 for $190 million 
- Aptavis Technology Corp, Windchill-based technology and expertise for retail, footwear and apparel, in June 2005
- Mathsoft, developers of Mathcad, in April 2006 for $63 million.
- 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.
- NC Graphics in May 2007 for an undisclosed sum.
- NetRegulus, Inc,an Enterprise Study and Quality management software for Medical Devices, in November 2007
- CoCreate in December 2007 for $250 million.
- Synapsis Technology in December 2008 for an undisclosed sum.
- Relex Software in June 2009 for $25 Million.
- Planet Metrics in January 2010 for an undisclosed sum.
- MKS Software makers of MKS Integrity - May, 2011
- 4CS Software Solutions Inc, a developer of warranty management and service lifecycle management software for an undisclosed sum 
- Servigistics in August 2012
- "James Heppelmann Assumes Role of Chief Executive Officer at PTC". Ptc.com. 2010-10-01. Retrieved 2010-10-04.
- Eda & Plm?
- Weisman, Robert (2006-10-02). "Parametric Technology's software lets engineers visualize the challenge - The Boston Globe". Boston.com. Retrieved 2010-08-14.
- S&P changes makeup of indexes, Spectra set to become index component, By Ana Campoy, MarketWatch, Dec 20, 2006
- ": Business Wire Business News - MSN Money". News.moneycentral.msn.com. Retrieved 2010-08-14.
- "Parametric Technology Corp - 10-K - for fiscal year 1995". getfilings.
- "Parametric Technology Corp - 8-K - For 5/30/95 - EX-99.1". SEC Info. 1995-05-30. Retrieved 2010-08-14.
- "PTC History and Acquisitions". Ptc.com. Retrieved 2010-08-14.
- "PTC Strengthens Commitment To Retail, Footwear And Apparel Industry".
- "PTC Buys Mathsoft, Part II - WorldCAD Access". Worldcadaccess.typepad.com. 2006-04-28. Retrieved 2010-08-14.
- [dead link]
- "PTC Acquires, RenamesNC Graphics - WorldCAD Access". Worldcadaccess.typepad.com. 2007-05-16. Retrieved 2010-08-14.
- "CoCreate Customer Information". PTC.com. 2007-12-03. Retrieved 2010-08-14.
- "PTC Advances Green Product Design And Environmental Regulatory Compliance Solution With Acquisition Of Synapsis Technology". PTC.com. 2009-06-08. Retrieved 2009-06-08.
- "Parametric Technology acquires Relex Software". TradingMarkets.com. 2009-06-08. Retrieved 2010-08-14.
- "PTC Extends InSight Product Analytics Solution With Environmental Impact Analysis Technology". PTC.com. 2010-02-08. Retrieved 2010-02-08.[dead link]
- "PTC Sets New Standard for Managing Hardware and Software Development Lifecycles with MKS Integrity Acquisition". yahoo.com. 2011-05-31. Retrieved 2011-07-13.