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Home / Tips and Tricks / Vuforia parent PTC moves all-in over 3D content creation with $ 470 million acquisition of Onshape CAD platform «Next Reality

Vuforia parent PTC moves all-in over 3D content creation with $ 470 million acquisition of Onshape CAD platform «Next Reality



There is a direct correlation between the proliferation of augmented reality apps and the demand for 3D content, and PTC has quantified that only in dollars.

On Wednesday, the company committed $ 470 million to acquire Onshape, makers of computer-aided design, (CAD) software that has raised $ 150 million in financing and more than 5,000 subscribers since its establishment in 2012. Barclays advised PTC on the acquisition.

Onshape delivers its platform via the software as a (SaaS) model and gives PTC a recurring revenue stream in addition to its existing CAD offering, giving its customers easy to implement CAD capabilities and allowing users to access the software from anywhere any desktop or mobile device.

"Today we see small and medium-sized CAD customers in the fast-growing part of the CAD market shifting their interest to SaaS delivery models and we expect that the interest of larger customers will grow over time," Jim said. Heppelmann, president and CEO of PTC, in a statement. "The acquisition of Onshape complements our on-premise activities with the only proven, scalable, pure SaaS platform that we expect to offer new CAD and PLM growth opportunities and position PTC as the leader in the transition to the SaaS model. "

The software also includes data management and collaboration features that enable large teams of designers and developers to create content more efficiently. Think of it as Google Docs, where users can edit the same file live.

Onshape will work as a business unit within PTC, the same as Vuforia, the popular augmented reality platform that PTC acquired for Qualcomm in 2015 for $ 65 million.

"PTC has built a reputation for successfully pursuing new innovations that drive business growth," says Heppelmann.


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