PTC Acquires Synapsis Technology Inc.
PTC (Nasdaq: PMTC), the Product Development Company®, today announced it has acquired the business assets of Synapsis Technology, Inc., based in Springhouse, Pennsylvania. Synapsis provides environmental regulatory compliance solutions to leading customers including Motorola, Microsoft, Sony Ericsson, Visteon, Delphi, IBM, GE, Beckman Coulter, Teradyne and Cisco. The company is privately held and has 25 employees. Financial terms of the acquisition were not disclosed. With this acquisition PTC will broaden its support for green product design and enable customers to achieve compliance with REACH and other environmental regulations.
Environmental regulatory compliance and "green" product design are increasingly important across all industries. Faced with a growing set of standards and environmental compliance regulations on product development including the European Union's (EU's) RoHS, WEEE, ELV, REACH, China's RoHS, as well as others, there is growing demand from manufacturers for a scalable platform to support green design initiatives.
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