The Robot Report

  • News
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors
    • Soft Robotics
    • Software / Simulation
  • Development
    • Artificial Intelligence
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
    • Research
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Exoskeletons
    • Industrial
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Markets
    • Agriculture
    • Healthcare
    • Logistics
    • Manufacturing
    • Mining
    • Security
  • Investments
    • Funding
    • Mergers & Acquisitions
  • Resources
    • COVID-19
    • Digital Issues
    • Publications
      • Collaborative Robotics Trends
      • Robotics Business Review
    • RBR50
    • Search Robotics Database
    • Videos
    • Webinars / Digital Events
  • Events
    • RoboBusiness Direct
    • Robotics Summit & Expo
    • Healthcare Robotics Engineering Forum
    • DeviceTalks
    • R&D 100
  • Podcast

PTC acquiring Onshape for $470M

By Steve Crowe | October 25, 2019

Onshape

Universal Logic, an AI and robotics integration company, uses Onshape to design systems. | Credit: Onshape

Industrial IOT company PTC is acquiring Onshape, creators of a Software as a Service (SaaS) product development platform that unites computer aided design (CAD) with data management and collaboration tools. The amount of the acquisition is about $470 million, net of cash acquired. The deal is expected to close in November 2019.

PTC said acquiring Onshape “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.”

Cambridge, Mass.-based Onshape was founded in 2012 in part by Jon Hirschtick, John McEleney, and Dave Corcoran, inventors and former executives of SolidWorks. Onshape has secured more than $150 million in funding from leading venture capital firms and has more than 5,000 customers around the world.

Onshape’s software is delivered in a SaaS model, making it accessible from any connected location or device, eliminating the need for costly hardware and administrative staff to maintain. Onshape exhibited and spoke exhibited at the Robotics Summit & Expo 2019, which is produced by The Robot Report, to highlight challenges for modern robotics designers.

“PTC has earned a reputation for successfully pursuing new innovations that drive corporate growth,” said Jim Heppelmann, president and CEO, PTC. “Building on the strong momentum we have with our on-premises CAD and PLM businesses, we look to our future and see a new growth play with SaaS.”

PTC said the acquisition is another step in its evolution to a recurring revenue business model. “Today, we see small and medium-sized CAD customers in the high-growth part of the CAD market shifting their interest toward SaaS delivery models, and we expect interest from larger customers to grow over time,” continued Heppelmann. “The acquisition of Onshape complements our on-premises business with the industry’s only proven, scalable pure SaaS platform, which we expect will open new CAD and PLM growth opportunities while positioning PTC to be the leader as the market transitions toward the SaaS model.”

Onshape will operate as a business unit within PTC. Onshape management will report directly to Heppelmann.

“At Onshape, we share PTC’s vision for helping organizations transform the way they develop products,” said Hirschtick, Onshape CEO and Co-founder. “We and PTC believe that the product development industry is nearing the ‘tipping point’ for SaaS adoption of CAD and data management tools. We look forward to empowering the customers we serve with the latest innovations to improve their competitive positions.”

About The Author

Steve Crowe

Steve Crowe is Editor of The Robot Report and co-chair of the Robotics Summit & Expo. He joined WTWH Media in January 2018 after spending four-plus years as Managing Editor of Robotics Trends Media. He can be reached at [email protected]

Comments

  1. B stinky says

    November 3, 2019 at 8:56 am

    I’m just gonna say what everyone is thinking. PTC saw a threat to Creo, and dealt with it. Goodbye free use of Onshape

    Reply
  2. Digitize Dan says

    July 24, 2020 at 6:01 pm

    Are there any other competitors in the space? It seems the CAD marketplace is turning into a monopoly!

    Reply
  3. Tyota says

    September 8, 2020 at 7:00 pm

    Very disappointing. Liked the idea of Onshape, with it’s Solidworks roots combined with the flexibility of SaaS . Sorry PTC was slowly going the way of the dinosaurs, but I guess enough capitol and urgency to buy them out. We can only hope Onshape will not go backwards as well. PTC…yuck.

    Reply

Tell Us What You Think! Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles Read More >

Ambi Robotics AmbiSort
Ken Goldberg on robotic grasping; Carbon Robotics’ new weeding robot
Ambi Robotics AmbiSort
Ambi Robotics, formerly Ambidextrous, raises $6.1M for picking robots
Marc Raibert Atlas dancing
Inside Boston Dynamics’ robotics facility
Using tactile-based reinforcement learning for insertion tasks

End-of-Arm Tooling Issue

The Robot Report Listing Database

Latest Robotics News

Robot Report Podcast

Ken Goldberg on robotic grasping; Carbon Robotics’ new weeding robot

The Robot Report Podcast · Ken Goldberg on robotic grasping; Carbon Robotics’ new weeding robot

Sponsored Content

  • Why field-of-view matters
  • FORT Robotics Podcast: FORT Robotics on how to keep humans safe and in control of robots
  • IES servo control gripper
  • How to cut the cost of manufacturing
  • Analytics: Robotics’ untapped vein of business value

Tweets by RoboticTips

The Robot Report
  • Mobile Robot Guide
  • Collaborative Robotics Trends
  • Field Robotics Forum
  • Healthcare Robotics Engineering Forum
  • RoboBusiness Event
  • Robotics Business Review
  • Robotics Summit & Expo
  • About The Robot Report
  • Subscribe
  • Advertising
  • Contact Us

Copyright © 2021 WTWH Media, LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media. Site Map | Privacy Policy | RSS

Search The Robot Report

  • News
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors
    • Soft Robotics
    • Software / Simulation
  • Development
    • Artificial Intelligence
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
    • Research
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Exoskeletons
    • Industrial
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Markets
    • Agriculture
    • Healthcare
    • Logistics
    • Manufacturing
    • Mining
    • Security
  • Investments
    • Funding
    • Mergers & Acquisitions
  • Resources
    • COVID-19
    • Digital Issues
    • Publications
      • Collaborative Robotics Trends
      • Robotics Business Review
    • RBR50
    • Search Robotics Database
    • Videos
    • Webinars / Digital Events
  • Events
    • RoboBusiness Direct
    • Robotics Summit & Expo
    • Healthcare Robotics Engineering Forum
    • DeviceTalks
    • R&D 100
  • Podcast