Acquisition Deepens PTC's Commitment to
Product Lifecycle Management for Electronics
NEEDHAM, Mass., April 8 /PRNewswire-FirstCall/ -- PTC (Nasdaq: PMTC), the
product development company(TM), today announced its expanded strategy and
offerings to the electronics industry through the acquisition of OHIO Design
Automation, Inc. (OHIO-DA), a New Hampshire-based leader in electronics design
collaboration software. The all-cash transaction closed on April 7, 2004 and
is valued at approximately $12 million, subject to the fulfillment of certain
conditions. Major OHIO-DA customers include Cisco, EMC, Harris, Maxtor,
Motorola, and Raytheon.
As part of the acquisition, PTC will retain all OHIO-DA employees. John
Lane, President and CEO of OHIO-DA, will become a Senior Vice President for
PTC and will report to James Heppelmann, PTC's Chief Product Officer.
OHIO-DA's flagship and patent-pending product is InterComm(TM), a leading
electronic design verification, visualization and collaboration product in use
in over 400 companies throughout more than 20 countries. InterComm is a
powerful, yet easy-to-use software solution that gives engineers,
manufacturers and customers simple access to complex design data created in
leading Electronic Design Automation (EDA) tools, including those provided by
Cadence Design Systems, Mentor Graphics, Zuken and other EDA vendors.
"This strategic acquisition furthers PTC's commitment to the high-tech and
electronics industries by enabling us to help manufacturers address the
growing challenges posed by the proliferation of electronic components within
their products," said C. Richard Harrison, President and Chief Executive
Officer of PTC. "Manufacturers are currently trying to juggle disparate
mechanical and electronic design processes and systems while at the same time
facing pressure to bring higher quality products to market faster. Our new
combined offering will enable us to provide tremendous value to customers who
want an integrated solution to help address these growing challenges."
PTC's acquisition of this open standard for EDA visualization and
collaboration gives PTC a highly differentiated solution. The integration of
InterComm with PTC's Windchill(R) PLM solutions will allow companies to manage
EDA design data across the enterprise, enabling concurrent design across an
increasingly outsourced and geographically disparate design chain.
PTC currently serves nearly 3,000 high technology and electronics
companies in multiple industries, including hardware, consumer electronics,
peripherals, telecommunications equipment, semiconductors, government and
military electronics, semiconductor equipment, and automotive and industrial
electronics. PTC's Windchill PLM customers in these segments include EMC,
Harris, HP, Iomega, LG Electronics, NEC, Novellus, Samsung, Seiko Epson, and
Unisys.
"With electronics now appearing in nearly every new product across most
industries, the need for effective, integrated design and management of
mechanical and electronic components has become critical. However, to date
leading PLM vendors have not adequately addressed the needs of electronic
design," states Ken Amann, Director of Research, at CIMdata. "PLM grew out of
the mechanical design world and historically provided very limited support of
electronics design. For electronics companies, EDA data drives their product
differentiation and for many companies in other industries, electronics has
become an essential component of their products. PTC's investment in support
of electronic design as part of a complete product definition environment is a
strong step forward and represents a significant event for companies in all
industries."
"OHIO-DA's deep expertise and industry-leading technology will enable PTC
to deliver breakthrough product lifecycle management solutions for the
electronics industry," said James Heppelmann. "It is very important to us and
to our customers that we preserve OHIO-DA's open, neutral approach to all
major EDA software vendors. Furthermore, we intend to continue to make the
technology available to other PLM partners."
"Unisys is extremely pleased about the acquisition of OHIO-DA by PTC,"
says Tim Saja, Windchill Program Manager, Unisys. "OHIO-DA and PTC are two
important partners in our enterprise PLM initiative, and we are excited that
they are working together to help us deliver high quality, low cost electronic
products. When top notch vendors join forces it makes for a better end user
experience and my life easier."
"This is a great win for OHIO-DA customers," says John Lane. "Our
existing customers have found that they can reduce design time by a third as a
result of using our products. We believe the combined PTC-OHIO-DA solution
will dramatically improve the electronic design process, and our entire
organization looks forward to joining the PTC family."
OHIO-DA's products will be immediately available for sale by PTC. In
addition, PTC plans to provide InterComm as an integral module of PTC's
Windchill PLM solutions.
For further information, please visit the PTC website at
http://www.ptc.com/go/ohiodesign/.
About PTC
PTC develops, markets, and supports software solutions that help
manufacturers win with superior products. PTC is the world's largest software
company with a total commitment to product development. The company services
more than 35,000 customers worldwide. Further information on PTC is available
at http://www.ptc.com or call 1-888-782-3776, ext. 901.
About OHIO Design Automation
OHIO Design Automation, Inc. assists individuals in their daily work by
facilitating the sharing of information. Headquartered in Nashua, NH, OHIO-DA
was founded in 1994. The OHIO-DA website is http://www.ohio-da.com.
About InterComm
InterComm is a powerful, yet easy-to-use visualization and collaboration
software product that gives engineers, manufacturers and customers access to
electronic design data. Schematics and PCB's can be browsed, queried and
cross-probed without the need for the original CAE or PCB CAD license.
Extensive electronics information queries and comment annotations can be
performed quickly and easily by anyone with file access permission. Over
400 companies in more than 20 countries use InterComm.
Except for the historical information contained herein, matters discussed
in this news release may constitute forward-looking statements that involve
risks and uncertainties that could cause actual results to differ materially
from those projected. These include: the successful development and
integration of the technology necessary to offer an integrated Product
Development System for the electronics industry that adequately responds to
evolving customer requirements; our ability to retain and maintain
relationships with key employees, customers and other strategic partners of
OHIO-DA; the effective coordination of development and customer service
activities between PTC and OHIO-DA; the success of our cost reduction
initiatives while at the same time achieving our revenue targets; as well as
other risks and uncertainties detailed from time to time in reports filed by
PTC with the Securities and Exchange Commission, including the Company's most
recent reports on Form 10-K and 10-Q.
InterComm is a trademark of OHIO Design Automation, Inc.
PTC and its logo, Product First, The Product Development Company, Create
Collaborate Control, Simple Powerful Connected, Pro/ENGINEER, Wildfire,
Windchill, Windchill PDMLink, Windchill ProjectLink, and all PTC product names
and logos are trademarks or registered trademarks of Parametric Technology
Corporation or its subsidiaries in the United States and in other countries.
Investor Contact Press Contact
Meredith Mendola Maria Battaglia
781-370-6151 781-370-5245
mmendola@ptc.com mbattaglia@ptc.com
SOURCE PTC
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Related links:
http://www.ptc.com
http://www.ohio-da.com
CONTACT:
Investors, Meredith Mendola, +1-781-370-6151,
or mmendola@ptc.com, or Press, Maria Battaglia, +1-781-370-5245,
or mbattaglia@ptc.com, both of PTC
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