Onshape

Onshape — developer company of the CAD system - cloud 3D mobile CAD. It is formed in 2012. The company develops a cloud platform in which possibilities of automated design engineering systems and also tools for management of data and joint work are implemented. The solution is proposed according to the SaaS model. In line-up of the team of Onshape group of the developers who are earlier acting in SolidWorks company.

History

2019: PTC purchased Onshape for $470 million

On October 24, 2019 PTC announced acquisition of Onshape for $470 million. After the closing of the transaction planned for November, the sold company will become separate division of PTC which management will submit to the CEO Jim Heppelmann.

By October 24, 2019 Onshape attracted in total more than $150 million venture investments and gained over 5 thousand clients worldwide.

Onshape is very unique asset — Heppelmann says. "Because of the high cost of an input you just will not find other CAD startup working according to the SaaS model.

PTC purchased the developer of a cloud CAD

The head of PTC emphasized that this transaction reflects the remaining commitment of the company to "long-term development" of products Creo and Windchill for automated design and product lifecycle management.

Earlier in 2019 PTC passed to distribution of software on a subscription to licensing. This scheme provides introduction of monthly or annual payments and is convenient to the companies which buy more than 10 licenses. It allows users to get for the minimum initial costs practically all main advantages of use of this product.  At the same time the SaaS model by October, 2019 only began to be implemented in the markets of a CAD and PLM, noted in the company.

Acquisition of Onshape complements our business of locally installed products with the only checked scalable SaaS platform in the industry which as we expect, will open new opportunities for growth of a CAD and PLM, at the same time positioning PTC as leader in a measure of transition of the market to the SaaS model — Heppelmann said.[1]

Notes