Parametric Technology Corporation Totally Explained

Everything about Parametric Technology Corporation totally explained

Parametric Technology Corporation (PTC) provides Product Lifecycle Management (PLM) engineering CAD/CAM software and content management and dynamic publishing solutions to more than 40,000 companies worldwide. PTC customers include companies in manufacturing, publishing, services, government and life sciences industries. PTC was a member of the S&P 500 Index through the end of 2006, when it instead became listed in the S&P Midcap 400. It is also in the Russell 2000 index.

Portfolio

PTC has five core products – Pro/ENGINEER, Windchill, Arbortext, Mathcad and FlexPLM.

History

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 lower-cost competitors.
   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. . Parametric then bumped Pier 1 Imports Inc., a retailer of home furnishings, down one spot and off of the bottom of the S&P MidCap 400 Index.

Companies acquired by PTC

Computervision, developers of CADDS in 1998 (External Link)
Arbortext, developers of Arbortext in 2005 for $190 million (External Link)
Mathsoft, developers of Mathcad in April 2006 for $63 million.(External Link)
ITEDO Software GmbH in October 2006 for $17million. ITEDO makes technical drawing software and had 34 employees mainly in Germany and the United States.(External Link)
NC Graphics in May 2007 for an undisclosed sum.(External Link)
CoCreate in October 2007 for $250 million. (External Link)

Further Information

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