NEEDHAM, MA – April 8, 2004 - PTC
(Nasdaq: PMTC), the product development company™,
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™, 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® 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.
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