Atego completes sale to PTC

July 22, 2014 by admin
Filed under: News

Atego in Cheltenham, the world’s largest independent modelling tool company, is independent no more.

This month the $50m acquisition of the company by Massachusetts-based PTC was completed. PTC has a history in the region, having bought Bristol-based high performance computing and virtual reality pioneer Division in 1999 where they both worked with Airbus. PTC is itself potentially being pursued by GE and late last year bought a pioneer in the Internet of Things, ThingsWorx.

Atego was formed in January 2010 from the merger of Aonix and Artisan Software Tools, creating headquarters in the USA and Cheltenham with subsidiaries in France, Germany, and Italy. The acquisition enhances PTC’s portfolio of product lifecycle management (PLM) and application lifecycle management (ALM) solutions, and strengthens PTC’s commitment to supporting its customers’ systems engineering initiatives with powerful modeling capabilities. Atego launched its

Atego’s market-leading Model-Based Systems Engineering (MBSE) solution connects requirements engineering, architecture modeling, physical product definition, and system verification functions. In doing so, it drives efficiencies and process standardization, allowing distributed teams to collaboratively build digital models of complex systems, while managing system variability and enabling reuse. These capabilities are increasingly important in a world of smart, connected products in which manufacturers must concurrently develop systems that consist of sophisticated mechanical, electrical, and software components.

Most of the cost associated with any product occurs early in the development process. As such, good decisions made early – while architecting ideas – are critically important. With digital models, manufacturers can ascertain product viability and predict product performance early in the development process, thereby reducing project time and decreasing project costs.

“This is an acquisition that makes perfect sense for PTC,” said Peter Bilello, president of analysts CIMdata. “Products are no longer simply mechanical systems. And model-based systems engineering supports collaboration across multiple disciplines (mechanical, electrical, software, and controls) and other enterprise functions (manufacturing, purchasing, finance, service, and project management). CIMdata believes that MBSE will become the pervasive paradigm for product development, supporting and promoting a systems thinking mindset.”

“Today, the competitive landscape is characterized by complexity, and manufacturers must employ a holistic approach when designing smart, connected products,” said Brian Shepherd, EVP of Enterprise Segments for PTC. “For customers in our focused markets, there is increasing importance for multifunctional teams to work in concert while modeling the interdependencies of mechanical, electrical, and software engineering components. The acquisition of Atego extends our existing ALM and PLM technologies, and directly supports customers’ needs to integrate multiple systems engineering disciplines.”

Over the past 12 months, Atego achieved approximately $20 million in revenue.

www.ptc.com