The company officially changed its legal name ‘Parametric Technology Corporation’ to PTC Inc and its NASDAQ ticker to PTC from PMTC in 2013. The company renamed its initial CAD product Pro/ENGINEER to PTC Creo. On October 1, 2010, James Heppelmann assumed the role of president and chief executive officer of Parametric.
In 2004 the company announced plans "to simplify its product management applications." 2010-2019 Ī Y2K-like bug in 2003 was described by The New York Times 20 days before it would have caused a problem. It also made a few CAD-related acquisitions including Cadtrain, NC Graphics, Mathsoft (developers of Mathcad), ITEDO Software GmbH and CoCreate. (Retail PLM), NetRegulus, Synapsis Technology, Relex Software and Planet Metrics. In the 2000s, Parametric developed lifecycle management software for products, assets, applications, processes and services through acquiring several companies including Polyplan Technologies, Arbortext, Aptavis Technologies Corp. Later that year, Parametric released its internet-based Windchill Product Lifecycle Management (PLM). The company consequently acquired Computervision subsidiaries including Windchill Technology, a Minnesota-based startup co-founded by PTC CEO, James Heppelmann. In 1998, Parametric acquired the company (Computervision) its founder Geisberg had previously worked for. The company made a few acquisitions in the 1990s including CDRS and 3DPaint products from Evans & Sutherland, Rasna Corp., Reflex and DivisionGroup. It made the Fortune 500 in 1995 and exceeded $800 million in revenue in 1997. In 1992 IndustryWeek named Pro/ENGINEER 'Technology of the Year'. The company went public in 1989 with symbol PMTC. Parametric's revenue grew quickly from $3 million in 1988 to $45 million in 1991. Pro/ENGINEER could recognize a change in a single variable of a design and adjust the rest of the model accordingly. Pro/ENGINEER was the first parametric, feature-based solids modeling CAD software. In 1988, the company unveiled its first Unix-based commercial product called Pro/ENGINEER and soon-after landed John Deere as its first customer. Geisberg worked at software-design providers Applicon and Computervision prior to forming Parametric Technology Corporation in May 1985. Russian immigrant and mathematician Samuel P.
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