PTC to acquire cloud-based online CAD/CAE software provider Onshape AM Software
PTC signed a definitive with Onshape, creators of the first Software as a Service (SaaS) CAD/CAE product development platform. As per the agreement, PTC acquires Onshape for approximately $470 million. 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.