Press release
PTC Completes Acquisition of Arena Solutions
- Combination of Arena Solutions and Onshape Positions PTC as the Market Leader in SaaS CAD + PLM - Expanded SaaS Business Unit to be Led by Mike DiTullio;
About this update from Ptc Inc.
[{"type":"text","content":"- Combination of Arena Solutions and Onshape Positions PTC as the Market Leader in SaaS CAD + PLM\n - Expanded SaaS Business Unit to be Led by Mike DiTullio; Jamie Pappas Elevated to Succeed DiTullio in Global Sales Leadership Role\n - Fiscal First Quarter 2021 ARR Growth Expected to be Near the High End of Guidance\n\n\nBOSTON, Jan. 19, 2021 /PRNewswire/ -- PTC (NASDAQ: PTC) has completed its acquisition of Arena Solutions, the industry's leading software as a service (SaaS) product lifecycle management (PLM) solution. The combination of Arena Solutions and Onshape, which PTC acquired in 2019, establishes PTC as the leading provider of pure SaaS solutions for the product development market and broadly extends PTC's presence in the attractive mid-market, where SaaS solutions are becoming the standard.\n\n \n \n \n \n \n \n\n \n\"Together, Arena Solutions and Onshape will provide a powerful pure SaaS CAD and PLM solution that is positioned to capture the rapidly emerging shift toward SaaS for product design, development, and realization,\" said Jim Heppelmann, President and CEO, PTC. \"The combined solution will allow manufacturers to improve collaboration and accelerate innovation in the 'new normal' created by the global pandemic. With our Creo® and Windchill® solutions showing strong momentum in the traditional CAD and PLM market, and now the Arena™ and Onshape® solutions leading the way in SaaS, PTC is well positioned to lead the product development market today and into the future.\"\nAccording to independent industry analyst firm Gartner, the overall SaaS market is poised to surpass $120 billion in 2021. As the product development market responds to the COVID-19 pandemic, early adopters have realized the impact of key SaaS benefits especially as they relate to digital transformation.\nConcurrent with the closing of the Arena Solutions acquisition, PTC has expanded its SaaS business unit, which now includes Arena, Onshape, and PTC's market-leading Vuforia® augmented reality technology. The expanded business unit will be led by long-time PTC global sales leader Mike DiTullio, reporting directly to PTC's CEO, Jim Heppelmann. Jamie Pappas, a 25-year PTC sales veteran, has been elevated to succeed DiTullio as head of global sales. Pappas has led regional sales in Asia, Europe and, most recently, North America, driving consistent...