PTC has signed a definitive agreement to acquire Mathsoft Engineering & Education Inc. for $63.25 million in cash. Mathsoft is the provider of Mathcad, software that helps engineering organizations create, automate, document, and reuse engineering calculations critical to the product development process, as well as other mathematics-driven processes. Mathcad has annual revenue of approximately $20 million and more than 250,000 professional users worldwide. It is used for authoring and documenting engineering calculations in industries such as discrete and process manufacturing, architecture, engineering and construction, government, and education.
With this acquisition, PTC will expand its computer-aided design, manufacturing, and engineering solutions with predictive engineering capabilities that will help customers deliver optimized products sooner, with higher quality and improved knowledge capture. The acquisition, which is subject to regulatory approval and other customary closing conditions.
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