We are excited to share with you that PTC has signed a definitive agreement to acquire Onshape, the first Software as a Service (SaaS) product development platform that unites robust computer aided design (CAD) with powerful data management and collaboration tools. The company was founded by CAD legends, including Jon Hirschtick, John McEleney, and Dave Corcoran, all inventors of and former executives at SolidWorks.
As you know, most software industries have embraced the SaaS model because it lowers the cost of ownership and accelerates the introduction of new capabilities into the market. SaaS eliminates the need for costly server hardware and ensures that users are always current with the latest software with no need for administrators to implement patches or perform regular upgrades. OnShape is an amazing product – I trust you will be as impressed by its many breakthroughs as I have been.
PTC is acquiring Onshape because we have a deep commitment to providing innovative technology that drives business value and enhances your competitive position. With this strategic acquisition, PTC is doubling down on CAD and PLM. We will give customers the ability to choose between leading SaaS (Onshape) and on-premises (Creo and Windchill) deployment options per their preference.
We will be sharing more details about what our acquisition of Onshape means for you in the days and weeks to come, but I want you to take away two important messages:
Existing Onshape customers if you have any queries get in touch.