PLM merger: PTC to buy CoCreate Software
CoCreate modeling solutions will be integrated with the PTC Product Development System (PDS) to offer users more product development capabilities, including engineering calculations, dynamic publishing, visualization, high-speed machining, and enterprise content and process management.
PTC reports a definitive agreement to acquire CoCreate Software GmbH , a provider of product life-cycle management (PLM) and CAD modeling solutions for approximately $250 million. Privately held CoCreate, based in Sindelfingen, Germany, has 280 employees and more than 5,000 customers, including Agilent, Canon, Fisher Controls, Fujitsu, HP, Liebherr, Matsushita Electric, NEC, Olympus, Phoenix Contact, and Seiko Epson.
With the buy, PTC plans to integrate CoCreate modeling solutions with the PTC Product Development System (PDS) to offer CoCreate customers additional product development capabilities including engineering calculations, dynamic publishing, visualization, high-speed machining, and enterprise content and process management—and ultimately, the option of using the modeling solutions as part of the PTC PDS.
Post-acquisition, PTC will embrace all the accepted approaches to modeling: i.e., parametric, explicit, derived, and 2D. Any of these modeling techniques combined with the PTC PDS are said to offer users a competitive advantage unmatched by any other vendor in the industry.
“PTC is dedicated to providing product development organizations with the solutions that they need to be successful in an incredibly competitive global marketplace,” says C. Richard Harrison, president and CEO of PTC. “As experts in product development, we are constantly evaluating technologies that address the business challenges of our customers. This acquisition is compelling as it enhances PTC’s product portfolio while also contributing in a meaningful way to earnings and operating margin. The satisfaction of CoCreate’s customers will be a major focus for PTC. We are committed to protecting and enhancing the investment that these customers have made in CoCreate solutions and we plan to also offer additional complementary PTC solutions to bring them even more value.”