PTC Adds Artificial Intelligence and Generative Design Capabilities to Enhance and Expand its CAD Portfolio with Acquisition of Frustum
PTC (NASDAQ: PTC) today announced that it has acquired Frustum Inc., an advanced generative design software company, for approximately $70 million. Frustum’s technology for generative design—an approach that leverages artificial intelligence (AI) to generate design options—is a transformative addition to the PTC Creo portfolio.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181120005326/en/
PTC Adds Artificial Intelligence and Generative Design Capabilities to Enhance and Expand its CAD Portfolio with Acquisition of Frustum (Graphic: Business Wire)
Based in Boulder, Colorado, Frustum offers patented desktop and cloud-based engineering software that enables designers and engineers to go beyond the limits of their personal experience by leveraging powerful AI capabilities that guide the discovery of high-performance, next-generation product designs.
“PTC is pushing the boundaries of innovation with this acquisition,” said Jim Heppelmann, president and CEO, PTC. “Creo is core to PTC’s overall strategy, and the embedded capabilities from ANSYS and, later, Frustum will elevate Creo to a leading position in the world of design and simulation. With breakthrough new technologies such as AR/VR, high-performance computing, IoT, AI, and additive manufacturing entering the picture, the CAD industry is going through a renaissance period, and PTC is committed to leading the way.”
Frustum complements PTC’s strategic relationship with ANSYS, which was announced at LiveWorx in June 2018, and will bring analysis upstream to the very start of the design process. With embedded Frustum and ANSYS capabilities, Creo will be able to recommend design approaches using generative design, guide the user through the iterative design process using ANSYS Discovery Live, and ultimately validate the full product design at scale using the broader ANSYS Discovery suite. With these capabilities embedded in Creo, engineers will have unmatched capabilities to rapidly drive product innovation.
“This acquisition is a natural step for PTC and its customers,” said Jeff Hojlo, program director, product innovation, IDC. “AI and machine learning (ML) are widely discussed as two of the most impactful technologies of the future. For design, engineering, and R&D, the potential positive impacts of complementing the development process with AI and ML are astounding: lowering cost of quality (which is currently 20-25 percent of annual revenue at the average manufacturer), improving product success rate (which remains very low with more than 80 percent of products failing), and improving time to market and time to revenue by meeting customer needs accurately the first time.”
The Power of Generative Design
With generative design, engineers can interactively specify the functional requirements and goals of their design, including preferred materials and manufacturing processes—and even indicate key design parameters that take into consideration purchasing decisions, manufacturing capacity, supply chain status, and regional-required product variances. The system then uses AI and powerful high-performance computing techniques to present design alternatives for consideration as a starting point or as a final solution. By removing the constraints of human imagination and experience, engineers will be able to interact with the technology to create superior designs and innovative products more quickly.
Generative design is appealing to PTC’s vast customer base as they seek ways to:
- Increase engineering productivity
- Improve innovation and conceptual design exploration
- Develop higher-performance designs that are lighter weight, with improved durability
- Optimize new products for improved manufacturability, reduce material costs, and decrease manufacturing cycle times
- Create complex geometries optimized for additive manufacturing
- Deliver better products faster
The Impact of Artificial Intelligence
Integral to Frustum’s technology is a powerful AI component that learns, evolves, and, ultimately, performs key tasks, including:
- Providing valuable feedback to a designer early in the design phase
- Optimizing designs for multiple objectives simultaneously and offering a designer with multiple novel design alternatives, which enables companies to substantially reduce engineering cycles
- Modifying designs to manage multiple requirements and constraints, physics, materials availability, manufacturing processes, and design objectives
- Automating testing the outcomes of the design with other enterprise insights, including costing, supply chain, and quality data
Learn More – Upcoming Webcast and Live Stage Announcement
PTC will hold an informational webcast to explain the significance of this acquisition today, Tuesday, Nov. 20, at 11 a.m. EST.
- To view the slides, please join the webcast here: https://ptc.zoom.us/s/948384709
To join the webcast audio only, please call in using:
Toll Free: 800-857-5592
Participant passcode: PTC
In addition, PTC will feature this announcement on-stage at PTC Forum Europe, held in Stuttgart, Germany, on Nov. 28. To register for the online or virtual event, please visit: https://www.ptc.com/en/special-event/ptc-forum-europe.
The transaction closed on Monday, Nov. 19, 2018. The acquisition is not expected to add material revenue for 2019 or to be dilutive to the financial guidance PTC provided on Oct. 24, 2018.
This news release contains statements about future events, including business performance and the effect of the acquisition on our future financial results, the integration and development of solutions, and the expected value of the acquired technology to users. These statements are “forward-looking statements” and actual results may differ materially from those projected as a result of certain risks and uncertainties, including that the acquisition may not have the expected effect on future financial results and that the integration of the solutions may not occur when or as expected, and those risks and uncertainties described in PTC’s filings with U.S. Securities and Exchange Commission. These forward-looking statements reflect our beliefs as of the date of this release and we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About PTC (NASDAQ: PTC)
PTC helps companies around the world reinvent the way they design, manufacture, operate, and service products in and for a smart, connected world. In 1986 we revolutionized digital 3D design, and in 1998 were first to market with Internet-based product lifecycle management. Today, our leading industrial innovation platform and field-proven solutions enable you to unlock value at the convergence of the physical and digital worlds. With PTC, manufacturers and an ecosystem of partners and developers can capitalize on the promise of the Internet of Things and augmented reality technology today and drive the future of innovation.
PTC, Creo, and the PTC logo are trademarks or registered trademarks of PTC Inc. in the United States and other countries.
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
The Current RPA Approach is Broken, It’s Time for a People1st Approach13.12.2018 09:42 | Pressemelding
Businesses are still struggling to understand where and how to start Robotic Process Automation (RPA). This was also a key finding of the first-of-a-kind global research by Softomotive into RPA for Growth Companies conducted by KS&R. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181213005261/en/ The Softomotive People1st Approach puts People before Robots. (Photo: Business Wire) “Despite uncertainty about which are the best processes to start automating, conventional wisdom is still typically to start with a big bang approach with high upfront investments associated with software, hardware and consulting, which carries more project risk, is more rigid and is less innovative, “said Marios Stavropoulos, CEO and co-founder of Softomotive, “In whichever currency you work in, it simply does not add up any longer. This has led some of our customers to say that there must be a better way to RPA rather than doing the same old thing
Adnuntius Enriches Geotargeting Capabilities With Digital Element’s IP Intelligence Solution13.12.2018 09:02 | Pressemelding
Digital Element, the global IP geolocation data and services provider, has today announced that specialist online advertising and marketing platform, Adnuntius, has chosen its NetAcuity PulseTM technology to improve targeting capabilities for its global publishing and marketing clients. Adnuntius provides a holistic solution for data utilisation, programmatic buying and selling, and effective ad serving to clients internationally. By deploying Digital Element’s NetAcuity Pulse IP intelligence, Adnuntius will achieve the highest level of geotargeting available for its clients, right down to a hyper-local postcode level. The identification of connection type and speed, mobile carrier and internet service provider also helps Adnuntius’ clients to effectively build highly accurate targeting profiles. “We enable publishers and marketers to reach the right audience with the right ad in the right context,” commented Stian Remaad, CEO and Co-Founder Adnuntius. “When a user goes to a webpage us
Entersekt Gains Early Certification for E-Commerce Authentication Solution13.12.2018 08:00 | Pressemelding
Entersekt, an innovator in mobile-first fintech solutions, today announced that it has gained EMVCo certification for its 3-D Secure 2 access control server. EMVCo is a payments industry consortium managing global specifications for secure card-based e-commerce transactions. Entersekt has offered a 3-D Secure access control server (ACS) for many years. Its mobile-optimized solution was among the first to be accredited by Visa, Mastercard, and American Express. It has proved popular among consumers in Europe and South Africa, who continue to enjoy the password-free, one-touch experience it makes possible. “Several years ago, Entersekt was the first company in Africa to earn accreditation for its ACS from all three of the big card networks,” recalled Entersekt’s SVP products Niel Bester of an early milestone in the company’s history. “This time around, with 3-D Secure 2, I’m pleased to see we are not only the first in Africa but fifteenth in the world. Congratulations, team, this yet aga
Traxens Trials Internet-of–Things (IoT) Network in a Port Environment for the First Time at MSC Terminal Valencia13.12.2018 08:00 | Pressemelding
Traxens, a company providing high-value data and services for the supply chain industry, today announces that it is collaborating with MSC Mediterranean Shipping Company, a global leader in transportation and logistics, on a pilot IoT project in the Port of Valencia, Spain, aimed at improving the operational efficiency of the port. Specifically, Traxens co-operates on this project with MSC Terminal Valencia and the Port Authority at the Port of Valencia, and Fundacion Valenciaport (FVP). The trial started in September 2018. As part of the pilot project, MSC Spain trucks have been equipped with Traxens’ dedicated IoT devices, allowing for near real-time tracking of movement of vehicles. This can help port authorities to predict and manage potential congestions, as well as to anticipate truck arrivals at the gates. Overall operational efficiency is therefore expected to significantly improve due to easy monitoring of on-site road activity, improved fleet management as well as pre- and po
Energy Observer Vessel Fitted with Oceanwings® Wingsails, the Solution Devised by VPLP and CNIM to Decarbonize Maritime Transport13.12.2018 07:52 | Pressemelding
Energy Observer , the first hydrogen-powered vessel aiming to achieve energy self-sufficiency, with zero greenhouse gas and fine particle emissions, has been equipped with Oceanwings ® wingsails. This hybrid propulsion system consisting of a composite mast 12m high and two sails of 32m², will reduce the craft's energy spending. Designed by VPLP Design, Oceanwings ® wingsails are jointly developed and manufactured in CNIM's industrial facilities in La Seyne-sur-Mer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181212005969/en/ (Photo: Business Wire) Installation of Oceanwings® on board Energy Observer is a first step towards reducing the environmental impact of global shipping. Inspired by the rigid sails of the America's Cup, this technology allows energy savings of between 18 and 42% depending on the vessel. A significant figure when it is recalled that 90% of all world trade transits by sea. Some 50,000 ships are therefo
c-LEcta: Successful Transformation into a Product Company in 2018 with a Promising Outlook for 201913.12.2018 07:00 | Pressemelding
c-LEcta, a globally active biotechnology company with technology leadership in enzyme engineering and bioprocess development for regulated markets such as the food and pharmaceutical industries, continued its successful development towards becoming a product company in fiscal year 2018. Successful products marketed by c-LEcta itself such as DENARASE ® contributed to this development. The company also actively advanced the expansion of its corporate structures to support its current growth course and successfully exploit future market potentials. For c-LEcta, the end of fiscal year 2018 has been marked by successful transformation. The company is going through a development process from a project company into a product company to better exploit existing market potentials in the food and pharmaceutical industries, and to continue its strong growth. Project business activities as a service business in contract research were completely discontinued last year on strategic grounds. This step