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Share Name | Share Symbol | Market | Type |
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PTC Inc | NASDAQ:PTC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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-1.74 | -0.94% | 183.09 | 180.00 | 203.00 | 186.13 | 181.31 | 185.87 | 1,021,245 | 22:30:00 |
Collaboration to Drive PTC's Onshape Initiatives Including Discovery Program, Onshape AI Advisor, and CAD and PDM Conversion Tools
BOSTON, Sept. 25, 2024 /PRNewswire/ -- PTC (NASDAQ: PTC) today announced entry into a Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to accelerate the growth of its Onshape® cloud-native computer-aided design (CAD) and product data management (PDM) solution. This collaboration will focus on advancing Onshape product enhancements, customer adoption programs, and artificial intelligence (AI) initiatives, all of which are aimed at helping product designers and engineers create new, high-quality products faster and more efficiently.
The Onshape team and AWS will collaborate on several product and go-to-market (GTM) priorities, including:
"Onshape continues to disrupt the CAD and PDM market, with product companies of all sizes choosing to switch and experience the speed, collaboration, and productivity benefits of the cloud-native approach," said David Katzman, General Manager of Onshape and Arena, PTC. "Our collaboration with AWS outlines some key priorities that will help us get Onshape in the hands of more designers and engineers, accelerate the delivery of some important product enhancements, and demonstrate how AI can assist in the product development process."
"Using Onshape has allowed us to make our product development process faster, easier, and more collaborative," said Wilfried Dufaud, Co-founder, Executive Director & Head of Airworthiness, AURA AERO. "We're always working on the latest version of our design, we no longer deal with lost work or system crashes, and we're now automating many of our repetitive CAD tasks, which saves us significant time. In addition to these day-to-day benefits, PTC and AWS give us high confidence in the availability, security, and reliability of our cloud-native approach to product development."
Onshape's growth has been fueled by its goal to help companies switch CAD and PDM systems to a cloud-native solution, an increase in commercial adoption, notable product enhancements, and significant traction in the education space. Leading companies such as Trek Bikes, Garmin, K2, Garrett Motion, and AURA AERO are all designing products with Onshape. As part of its three-week release cycles, Onshape has added functionality such as Render Studio, PCB Studio, Onshape Simulation, new surfacing, modeling analysis, and mixed modeling capabilities, and the Onshape-Arena connection for a seamless CAD-PDM-PLM experience. In education, from K-12 through university, Onshape is now generating more than one million new signups per year. Leading universities, including The Ohio State University, Rochester Institute of Technology, the University of Washington, and Penn State University, are all teaching Onshape as part of their engineering curricula.
"PTC's Onshape team and AWS will work together to expand technical and go-to-market collaboration to support the market evolution of engineering design tools moving to the cloud," said Chris Grusz, Managing Director of Technology Partnerships at AWS. "Together, we will evolve PTC's Onshape cloud-native CAD and PDM solution, supported by technology powered by AWS, and bring new AI/ML-powered capabilities and value propositions in a scalable and cost-effective manner to businesses around the world and the next generation user base in education."
To learn more about Onshape, please visit www.onshape.com.
About PTC
PTC (NASDAQ: PTC) is a global software company that enables industrial and manufacturing companies to digitally transform how they design, manufacture, and service the physical products that the world relies on. Headquartered in Boston, Massachusetts, PTC employs over 7,000 people and supports more than 30,000 customers globally. For more information, please visit www.ptc.com.
Media
Greg Payne
gpayne@ptc.com
Investors
Matt Shimao
mshimao@ptc.com
PTC, Onshape and the PTC logo are trademarks or registered trademarks of PTC Inc. and its subsidiaries in the United States and other countries.
View original content to download multimedia:https://www.prnewswire.com/news-releases/ptc-announces-strategic-collaboration-agreement-with-aws-to-help-companies-design-products-faster-and-easier-with-onshape-302258470.html
SOURCE PTC Inc.
Copyright 2024 PR Newswire
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