PTC Strengthens Commitment To Retail, Footwear And Apparel Industry
PTC to Acquire Aptavis and Solidify Leading Position in PLM for Retail, Footwear and Apparel Companies
ORLANDO, FL – June 6, 2005 – At the 2005 PTC/USER World conference in Orlando, PTC (Nasdaq: PMTC), the Product Development Company™, today announced it has solidified its leadership position in product lifecycle management (PLM) for the Retail, Footwear and Apparel industry by signing a definitive agreement to acquire Aptavis Technologies Corporation, a solution provider dedicated to delivering industry-specific Windchill-based technology and expertise to some of the world’s most innovative consumer brands.
“One of PTC’s growth strategies is to extend our solutions to vertical industries beyond the core discreet manufacturing verticals traditionally served by PTC,” said C. Richard Harrison, president and chief executive officer of PTC. “With this acquisition, we will strengthen our offering for this industry, which is adopting PLM technology rapidly.”
“Retail, Footwear and Apparel companies operate in a highly distributed, competitive environment and therefore share some common business challenges with discrete manufacturing companies,” said Jim Heppelmann, executive vice president and chief product officer of PTC. “However, Retail, Footwear and Apparel companies require a specialized solution to meet the unique requirements of their industry. Several point solutions have emerged, but these offerings lack the power and scalability of the Windchill platform. The Windchill-based solution from Aptavis is a natural fit as we make true enterprise PLM a reality for the first time in this industry.”
Retail, Footwear and Apparel companies face constant pressure to compete with new entrants in emerging regional markets, bring more products to market globally, with increased speed and quality. This has led to recent growth in their adoption of PLM solutions. PTC’s solution for this market has been adopted by leading brands such as Fila, Lands’ End, Limited Brands, Liz Claiborne Inc., Lost Arrow, Nike Apparel, Redcats, Reebok, and Sara Lee.
“Our business environment is changing dramatically, and we are adopting aggressive strategies and infrastructure changes to drive future growth,” said John Sullivan, senior vice president, sourcing, service and systems of Liz Claiborne Inc. “Our product development processes and technology infrastructure, including PLM, are an integral part of accomplishing our goals. PTC’s approach to solving global product development challenges, and the specific capabilities of its Retail, Footwear and Apparel solution, are well aligned with our vision for business transformation.”
The PTC Retail, Footwear and Apparel solution allows customers to manage the process of developing merchandise across a complex global value chain through:
• Seasonal calendaring management
• Line board management
• Product specifications management
• Materials management
• Color management
• Sourcing, costing and quality control
• Vendor collaboration
The Aptavis solution, powered by Windchill, has been solely distributed by PTC since 2002. PTC expects it will continue to strengthen its position as a leading PLM solutions provider to the Retail, Footwear and Apparel industry with this fully integrated offering.
Aptavis is a private company based in Nashua, New Hampshire. The acquisition is expected to close by the end of June, 2005. Financial terms of the acquisition were not disclosed.
Retail, Footwear & Apparel
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PTC (Nasdaq: PMTC) provides leading Product Lifecycle Management (PLM) software solutions to more than 35,000 companies worldwide. PTC customers include many of the world's most innovative manufacturing companies in the aerospace & defense, automotive, consumer, electronics & high technology, industrial equipment and medical products industries. PTC is included in the S&P 500 and Russell 2000 indices. For more information on PTC, please visit http://www.ptc.com
Except for the historical information contained herein, matters discussed in this news release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These include: the final closing of the transaction and the successful integration of the Aptavis business with that of PTC; our ability to maintain relationships with key employees, customers and other strategic partners of Aptavis; the successful development and integration of the technology necessary to offer an integrated Product Development System for the Retail, Footwear and Apparel industry that adequately responds to evolving customer requirements; continued growth in the adoption of PLM solutions by Retail, Footwear and Apparel customers; and our ability to achieve our growth objectives by extending our solutions to vertical industries, such as Retail, Footware and Appparel, beyond the discreet manufacturing verticals traditionally served by PTC; as well as other risks and uncertainties detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including the Company's most recent reports on Form 10-K and 10-Q.
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