PTC takes over Onshape
On October 23, PTC announced the planned takeover of the US software provider Onshape. With this acquisition, PTC acquires CAD software that has been tried and tested in the market and is available purely as Software as a Service. The previous CAD and PLM portfolio is not affected by this according to the press release, but will be fully further developed.
The acquisition will cost PTC US$ 470 million. Onshape offers software for CAD, PDM and collaboration in product development that relies entirely on the cloud. With this acquisition, PTC wants to trigger a growth spurt, because the manufacturer assumes that the industry will increasingly demand cloud-based solutions in the course of its digital transformation. The acquisition is expected to be completed in November.
Headquartered in Cambridge, Massachusetts, Onshape was founded in 2012 by former SolidWorks executives and managers. They have secured more than $150 million in venture capital and more than 5,000 subscribers worldwide. With the new offering, PTC aims to complement its existing range of licensed software and help customers move into the world of solution usage without having to install and maintain their own software.