PTC Finalizes the Acquisition of Onshape

  Enquiry / contact me

Onshape's Software as a Service model to underpin PTC's growth strategy

Industry 4.0

From left to right: Jon Hirschtick, Jim Heppelmann
From left to right: Jon Hirschtick, Jim Heppelmann

PTC announced the acquisition of Onshape, the innovative company behind the first Software as a Service (SaaS) product development platform that combines computer aided design (CAD) and tools that allow data management and enable collaboration. 
With more than $150 million of funding secured, Onshape’s SaaS model makes work more efficient by improving collaboration and automating software updates, while at the same time eliminating the need for hardware and administrative staff to maintain it. 
Jon Hirschtick, CEO and co-founder of Onshape, said, “We and PTC believe that the product development industry is nearing the ‘tipping point’ for SaaS adoption of CAD and data management tools.”

Leading industry transformation 

Thanks to the acquisition of Onshape, PTC expects to remain at the forefront of digitalization and the industry's transition to SaaS, capitalizing on the SaaS best practice and benefitting from a more stable revenue stream that characterizes this model. 
Jim Heppelmann, president and CEO at PTC, stated, “Building on the strong momentum we have with our on-premises CAD and PLM businesses, we look to our future and see a new growth play with SaaS. The acquisition of Onshore complements our on-premises businesses with the industry’s only proven capable pre SaaS platform.”

Posted on November 18, 2019 - (187 views)
Related articles
''Agility is the Key of IIoT Innovation,'' Advantech Says at Global IIoT Summit
PAC RADAR Acknowledges Eurotech as Best in Class in “IoT platforms based on Open Source”
Mouser's Digital AI Conference is now Available On-Demand
How the Digital Thread Puts an End to Digital Threats
Advantech to Unveil the Latest in AI and IIoT at its Global IIoT Virtual Summit
“5G Private Networks can Become a New Communication Backbone
for Industrial Automation”
Wireless Kits - Wi-Fi5/BT5.0 and LTE Cat.16
New International SPECTARIS Standard for Laboratory Equipment Communication
Real-time Data: How to Take Advantage of 5G Opportunities?
Eco-friendly Augmented RFID Solution
Open Standards Platforms
Co-creating the Future of the IoT World
Co-creating the Future of the IoT World
Procentec: Industry 4.Human
Robot Tools RFID Identifications
Co-creating the Future of the IoT World
Hannover Messe: Home of Industrial Pioneers
Procentec Diagnostic Tools
Embedded Solutions for IoT Applications
Advantech Co-creates the Future
Wireless Kits - Wi-Fi5/BT5.0 and LTE Cat.16
Eco-friendly Augmented RFID Solution
Compact & Configurable Rugged Industrial Computers
IO-Link Position Sensors
Ultra-low Power Radio Module
Compact Pressure and Vacuum Switch
Autonomous Transport System
Deutsche Messe Launches Hannover Messe Digital Days to be Held from 14 to 15 July 2020
Rugged COM Express Type 6 Module
Permanent Magnet Synchronous Reluctance Motor
Mouser's Digital AI Conference is now Available On-Demand
Post-Corona Recovery: High demand for “Robotics Skills”
Ultra-low Power Radio Module
Autonomous Transport System
Permanent Magnet Synchronous Reluctance Motor
Easy-to-use Security Routers and Firewall
Flexibly Scalable Edge Cloud Data Center
Software for Product Data Management
Data Extraction with AI-powered Anomaly Detection
Label Printer with Industry 4.0 Connectivity