PTC Inc. ( PTC Quick Quote PTC - Free Report) has announced the availability of the Onshape-Arena Connection, which integrates the company’s Onshape and Arena product lifecycle management (PLM) solutions.
It promotes continuous and cross-functional product development that can minimize costs and scheduling impacts on the manufacturing process. Existing customers of Onshape and Arena do not need to spend additional money or install and download new software to utilize the Onshape-Arena Connection.
The Onshape-Arena Connection can lessen the difficulties and coding that frequently arise when attempting to integrate systems for product data and product lifecycle management, per the company report. The abovementioned features enable product data to be sent from engineering to operations, which also benefits supply-chain partners.
In January 2021, PTC completed the acquisition of Arena Solutions for $715 million. Arena Solutions’ SaaS offerings enable customers to optimize the product development process, as well as improve supply-chain relationships and augment closed-loop quality processes.
Arena Solutions’ buyout complements PTC’s earlier acquisition of Onshape. The company acquired Onshape for $470 million in cash to augment its Creo and Windchill products with improved SaaS capabilities.
Boston, MA-based PTC provides software solutions and services globally that aid manufacturing companies in designing, operating and managing products.
PTC’s performance is gaining from the robust demand for products (digital transformation and SaaS) across all segments and all regions, along with the recent buyout of Intland Software. The company is also working toward accelerating the SaaS transition by increasing the capacity of its Atlas platform and improving its SaaS capabilities.
PLM and computer-aided design or CAD businesses continue to record a healthy growth. The company is witnessing robust adoption of Creo CAD and Windchill solutions.
Recently, PTC and Bangalore-based ITC Infotech
closed the Strategic Partner Agreement transaction as announced in April. The transaction focuses on accelerating customer digital transformation efforts and boosts the uptake of PTC's Windchill PLM SaaS solution.
In the last reported quarter, PTC delivered revenues of $462.5 million, up 6% year over year (up 12% at constant currency or cc). The top line missed the Zacks Consensus Estimate by 2.8%.
However, the company’s lowered its revenue guidance owing to forex headwinds for fiscal 2022. Revenues for the fiscal are now projected in the range of $1.900-$1.950 billion (up 5-8% year over year) compared with the earlier guidance of $1.905-$1.975 billion.
PTC currently carries a Zacks Rank #3 (Hold). Shares have lost 6.4% compared with the
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