Design World

  • Home
  • Articles
    • 3D CAD
    • Electronics • electrical
    • Fastening & Joining
    • Factory automation
    • Linear Motion
    • Motion Control
    • Test & Measurement
    • Sensors
  • Suppliers
  • 3D CAD Models
    • PARTsolutions
    • TraceParts
  • Webinars
  • Leadership
    • 2019 Winners
    • 2018 Winners
    • LEAP Awards
  • Engineering Resources
    • 3D Simulation Resources
    • DIGITAL ISSUES
      • EE World Digital Issues
    • LEAP Awards
    • MC² Motion Control Classroom
    • Podcasts
    • Totally Integrated Automation
    • Women in Engineering
  • Ebooks / Tech Tips
  • Videos
  • Subscribe

PTC to acquire Onshape

By Leslie Langnau | October 24, 2019

Share

PTC announced that it has signed a definitive agreement to acquire Onshape, creators of Software as a Service (SaaS) product development platform that unites computer aided design (CAD) with data management and collaboration tools, for approximately $470 million, net of cash acquired.
The acquisition is expected to accelerate PTC’s ability to attract new customers with a SaaS-based product offering and position the company to capitalize on the inevitable industry transition to SaaS. Pending regulatory approval and satisfaction of other closing conditions, the transaction is expected to be completed in November 2019.

Located in Cambridge, MA, Onshape was founded in 2012 by CAD pioneers and tech legends, including Jon Hirschtick, John McEleney, and Dave Corcoran, inventors and former executives of SolidWorks. Onshape has secured more than $150 million in funding from leading venture capital firms and has more than 5,000 subscribers around the world. The company’s software offering is delivered in a SaaS model, making it accessible from any connected location or device, eliminating the need for costly hardware and administrative staff to maintain. Distributed and mobile teams of designers, engineers, and others can benefit from the product’s cloud nature, enabling them to improve collaboration and to dramatically reduce the time needed to bring new products to market – while simultaneously staying current with the latest software.

This acquisition is the logical next step in PTC’s overall evolution to a recurring revenue business model, the first step of which was the company’s transition to subscription licensing, completed in January 2019. The SaaS model, while nascent in the CAD and PLM market, is rapidly becoming industry best practice across most other software domains.

Onshape will operate as a business unit within PTC, with current management reporting directly to PTC President and CEO Jim Heppelmann.

Barclays acted as exclusive financial advisor to PTC on the transaction.

PTC
www.ptc.com

Tell Us What You Think! Cancel reply

DESIGN GUIDES


PTC Creo

Enews Sign Up

Motion Control Classroom
Leadership in Engineering

Design World Digital Edition

September 2019 issue

Browse the most current issue of Design World and back issues in an easy to use high quality format. Clip, share and download with the leading design engineering magazine today.

EDABoard the Forum for Electronics

Top global problem solving EE forum covering Microcontrollers, DSP, Networking, Analog and Digital Design, RF, Power Electronics, PCB Routing and much more

EDABoard: Forum for electronics

Sponsored Content

  • New from Chieftek: Stages, drives, and 2-mm miniature slides for precision automation
  • The Decision-Makers’ Guide to Additive Manufacturing: Explore the essentials of today’s AM environment and improve your results
  • The First 3 Things any Injection Molding Service Checks on Your Parts
  • Elastomeric Couplings Provide Reliable Performance on Pipeline Injector Pumps
  • Consistent linear motion systems with the PBC Linear Uni-Guide
  • New Nested Spirawave® Wave Springs from Smalley
Engineering Exchange

The Engineering Exchange is a global educational networking community for engineers.

Connect, share, and learn today »

Tweets by @DesignWorld
Design World
  • Advertising
  • About us
  • Contact
  • Manage your Design World Subscription
  • Subscribe
  • Design World Digital Network
  • Engineering White Papers
  • LEAP Awards

Copyright © 2019 WTWH Media, LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media. Site Map | Privacy Policy | RSS

Search Design World

  • Home
  • Articles
    • 3D CAD
    • Electronics • electrical
    • Fastening & Joining
    • Factory automation
    • Linear Motion
    • Motion Control
    • Test & Measurement
    • Sensors
  • Suppliers
  • 3D CAD Models
    • PARTsolutions
    • TraceParts
  • Webinars
  • Leadership
    • 2019 Winners
    • 2018 Winners
    • LEAP Awards
  • Engineering Resources
    • 3D Simulation Resources
    • DIGITAL ISSUES
      • EE World Digital Issues
    • LEAP Awards
    • MC² Motion Control Classroom
    • Podcasts
    • Totally Integrated Automation
    • Women in Engineering
  • Ebooks / Tech Tips
  • Videos
  • Subscribe
We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services. You consent to our cookies if you continue to use this website.OkNoRead more