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Definition: PTC

(PTC, Needham, MA) A world leader in mechanical computer-aided design, manufacturing and engineering software, PTC, through acquisitions and reorganization, has transformed itself into a leading provider of Internet-based B2B solutions for discrete manufacturers. The company was founded in 1985 as Parametric Technology Corporation.

Its Pro/Engineer product line, first introduced in 1988, includes a family of software for product design and development across all manufacturing industries, plus dedicated design software for shipbuilding solutions. Additional products include software for collaborative product commerce (CPC) and mechanical design automation (MDA) as well as training, consulting and support services. In 2001, PTC acquired Computervision Corporation, making it a wholly owned subsidiary and turning the company into the world's sixth largest independent software company. In 2007, PTC acquired CoCreate Software (see CoCreate).