PTC adds artificial intelligence and generative design capabilities to its CAD portfolio with the acquisition of Frustum, allowing engineers and designers to reimagine the next generation of products.
NEEDHAM, Massachusetts – November 20, 2018 – PTC (NASDAQ: PTC) today announced that it has acquired Frustum Inc., an advanced generative design software company, for approximately $70 million. Frustum’s technology for generative design—an approach that leverages artificial intelligence (AI) to generate design options—is a transformative addition to the PTC Creo portfolio..
Based in Boulder, Colorado, Frustum offers patented desktop and cloud-based engineering software that enables designers and engineers to go beyond the limits of their personal experience by leveraging powerful AI capabilities that guide the discovery of high-performance, next-generation product designs.
“PTC is pushing the boundaries of innovation with this acquisition,” said Jim Heppelmann, president and CEO, PTC. “Creo is core to PTC’s overall strategy, and the embedded capabilities from ANSYS and, later, Frustum will elevate Creo to a leading position in the world of design and simulation. With breakthrough new technologies such as AR/VR, high-performance computing, IoT, AI, and additive manufacturing entering the picture, the CAD industry is going through a renaissance period, and PTC is committed to leading the way.”