PTC Introduces Creo Design Software
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PTC Introduces Creo Design Software

Four Breakthrough Technologies Designed to Unlock Potential; Solve Chronic Customer Challenges With Traditional CAD Tools

NEEDHAM, Mass. — (BUSINESS WIRE) — October 28, 2010 — PTC (Nasdaq: PMTC), The Product Development Company®, today unveiled Creo™ design software. Creo is being designed as a scalable suite of interoperable, open, and easy-to-use product design apps. The Creo vision and strategy, first introduced in June at the PTC/USER World Event as Project Lightning, recognizes that product development involves many different users with different needs at different points in the product lifecycle. Unlike solutions to date, Creo is designed to remedy lingering, unaddressed problems that have plagued CAD for decades.

“Creo is being specifically created to solve the big problems remaining in the mechanical CAD market: usability, interoperability, assembly management and technology lock-in,” said James E. Heppelmann, president and CEO, PTC. “By providing the right-size product design apps for each participant in a company’s extended product development team, Creo will enable more people to participate earlier and more fully in the product development process, significantly expanding innovation capacity.”

“Historically companies have made significant investments in CAD applications that bind them into inflexible business processes and design practices dictated by the specific visual authoring or simulation application that they pick. PTC's game-changing vision to release a highly flexible CAD application in a new code base, while sticking to existing file formats under the Creo portfolio, is expected to rejuvenate the mature CAD market and open up a path for non-PTC CAD users to move easily on a flexible visual design platform,” says Sanjeev Pal, research manager, IDC.

Highlights of planned apps include:

“We believe Creo could be significant and a positive advance in PTC's product offerings.” said Mike Galbraith, Global Engineering Systems & Services, Tyco Electronics. Creo could allow the teams involved in designing new products and bringing them to market...across different functions, different locations, etc... to productively use the same toolset throughout the product life-cycle process. We're looking forward to working with PTC and their other partners in shaping these new capabilities."

“Creo is being designed to allow product development organizations to do what they do best – innovate and develop great products free from the constraints imposed by the tools they depend on,” said Brian Shepherd, EVP Product Development, PTC. “Many customers are trapped by legacy tools and locked into technologies that may no longer meet their needs. High switching costs make it difficult to migrate to a new technology, application or vendor and retire old tools. “We expect Creo will eliminate the pressure to standardize on a single vendor or technology platform.”

Heppelmann concluded, “By leveraging a core set of technology assets unique to PTC, we are once again redefining a market plagued by seemingly insurmountable challenges.”

Existing Brands

PTC’s current design software product families and associated modules, extensions and packages are being rebranded in alignment with the functional capabilities provided by each product.

Data created in these applications will be fully upwards compatible with the Creo family of products.

For more information please visit:

http://www.ptc.com/products/creo/intro-to-creo-elements/

Availability

PTC expects Creo1.0 to be available during mid-year 2011.

The timing of any product release, and any features or functionality thereof, are subject to change at PTC’s discretion.

To learn more about Creo, please visit http://creo.ptc.com.

About PTC ( http://www.ptc.com)

PTC (Nasdaq: PMTC), The Product Development Company®, develops, markets and supports product development software solutions and related services that help companies achieve their product development strategies and optimize their processes. Using the company’s tightly integrated CAD and enterprise PLM solutions, organizations are better able to create and manage product information throughout the lifecycle for optimal product development success.

This press release contains forward-looking statements about the anticipated effects of Creo on the CAD market and the expected release and features of Creo. Creo may not have the effects we expect on the market, may not be adopted by customers as we expect, and may not generate the revenue we expect. Further, the timing of the release of Creo, and any planned apps, features or functionality thereof, may be delayed and may be changed at PTC's discretion.

PTC and its logo, The Product Development Company, Creo, Pro/ENGINEER, CoCreate, ProductView, Windchill, AnyMode Modeling, AnyData Adoption, AnyRole Apps, AnyBOM Assembly, Elements/Pro, Elements/Direct and Elements/View are trademarks or registered trademarks of Parametric Technology Corporation or its subsidiaries in the United States and other countries.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6486747&lang=en


Contact:

PTC
Corporate Communications
Anita Berryman, 781-370-6619
Email Contact
or
For PTC
Weber Shandwick
Amanda Keane, 617-520-7260
Email Contact