New York City, October 24, 2000 - PTC (Nasdaq: PMTC), a leading provider of collaborative product commerce (CPC) solutions, today announced a partnership with Groove Networks to leverage the Groove peer-to-peer collaboration platform within PTC's product development solutions. Groove, the peer computing platform launched today by Groove Networks, is designed to host a broad range of peer-to-peer applications and business solutions, enabling new ways for individuals to communicate with others via the Internet. PTC intends to utilize Groove to develop software solutions that drive innovation and collaboration across the design chain, and to support Groove with its market leading product development collaboration solutions, Windchill and Windchill Netmarkets.
Recognizing the benefits of the new peer-to-peer architecture in terms of flexibility, security and speed, PTC is focusing on extending the value of its "center" based solutions and building domain-specific applications that empower people on the "edge" of the network. "Today, when Web users collaborate, they are doing so through a center-based application, one that pushes all the interaction to the server," said James Heppelmann, executive vice president and general manager, Windchill Netmarkets, PTC. "By working with the Groove platform, Windchill and Windchill Netmarkets users will be able to interact directly, from the edge of the network. They will be able to participate in virtual brainstorming, collaborative authoring, and review of product designs with design chain partners, including customers, partners and suppliers."
"Peer-to-peer collaboration adds new heart and soul to the product design process, enabling product creators to interact directly, in real time to drive innovation," said C. Richard Harrison, president and chief executive officer of PTC. "Through this partnership, we're supporting the creative process, the thought process and the brainstorming that produces innovative products."
Harrison continued, "Groove has the potential to completely change today's computing paradigm, perhaps even transforming the Web as we know it today. PTC's corporate expertise is in facilitating the sharing of product-related information between design chain partners so they may quickly deliver innovative products that are exactly what their end customer requires. Peer-to-peer collaboration brings real power to the edge, driving further innovation to where it can have a real effect on a company's bottom line."
Ray Ozzie, CEO of Groove Networks, stated, "PTC is a leading vendor of collaborative product commerce solutions and a leading source of domain expertise in product development. We look forward to working with PTC to deliver solutions that support collaboration throughout companies' design chains and that streamline the overall product development process."
About PTC
PTC, founded in 1985 and headquartered in Waltham, Mass., USA (Parametric Technology Corporation), develops, markets, and supports product development solutions for collaborative product commerce (CPC), helping manufacturing companies shape innovation and achieve sustainable competitive advantage in the Internet age. These B2B e-commerce solutions employ powerful Web-based collaboration and flexible engineering technologies to streamline product development and delivery processes. PTC's software solutions are complemented by the strength and experience of PTC Global Services, which provides training, consulting, support, and e-commerce services to customers worldwide. With PTC's CPC solutions, manufacturers can take advantage of the Internet to improve product quality, reduce costs, and shorten time-to-market cycles. PTC can be reached at 781-398-5000, or via the Web at 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 risks and uncertainties include PTC's ability to successfully develop applications based on the Groove platform, PTC's ability to anticipate and adequately respond to varying and evolving customer requirements and to successfully develop and support products and services, including Internet exchange-based products, that meet those requirements, and PTC's ability to effectively work with third parties to integrate and support evolving technologies, together with such other risks and uncertainties as are detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including PTC's most recent reports on Form 10-K and 10-Q.
PTC, Windchill, and all PTC product names and logos are trademarks or registered trademarks of Parametric Technology Corporation or its subsidiaries in the United States and in other countries. Names of products from other vendors mentioned in this document may be trademarks or registered trademarks of their respective owners.