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PTC Receives $9.5 Million Order from Ingersoll-Rand
Global Diversified Industrial Firm Standardizes on PTC's Windchill and Pro/ENGINEER to Implement B2B Initiatives
PTC (Nasdaq: PMTC), a leading provider of collaborative product commerce (CPC) solutions, today announced that it has received a $9.5 million order for software and services from Ingersoll-Rand Company (IR). This order solidifies IR's commitment to standardize on PTC's Windchill and Pro/ENGINEER software to build and support its e-business initiatives, as well as streamline its manufacturing processes. IR, headquartered in Woodcliff Lake, New Jersey, is a diversified, multinational manufacturer of industrial and commercial equipment and components. The software will be shipped during PTC's fourth fiscal quarter ending September 30, 2000.
IR will standardize on PTC's enterprise solutions selecting Windchill as their standard on which they will implement its e-business strategy focusing on collaboration with partners. With successful pilots complete, IR will begin a production-level implementation of PTC's Windchill resulting in more than 3500 users over the next 3 years.
Windchill advances collaborative product commerce (CPC) initiatives by enabling manufacturers like IR to collaborate over the Internet with partners throughout a product's lifecycle, from design to product retirement. "IR is aggressively developing an e-business strategy that will enable its business to be a leader in the Internet age, taking full advantage of opportunities for growth," said Robert Orshaw, vice president, e-Business Technologies, IR. "PTC's Windchill provides the enterprise CPC solutions in a native Web-based architecture that support and complete our enterprise direction, enabling us to build and expand our partner collaboration. We also intend to leverage Windchill to take full advantage of the Internet to improve product quality, reduce costs, and accelerate the introduction of new, innovative products."
IR will also standardize on PTC's engineering solutions selecting Pro/ENGINEER as their MDA standard across all locations. With more than 500 seats of Pro/ENGINEER already in use, IR has experienced reductions in their development cycle by nearly 40%. This reduction has been achieved in part by the elimination of prototypes and moving directly from design to production with the help of PTC's assembly centric design and analysis tools. IR has also taken advantage of extending engineering data across their enterprise, enabling collaboration from design analysis to sales.
With this expanded implementation of PTC's engineering software solutions, IR will be enabled to execute their collaborative engineering initiatives of design anywhere, build anywhere, and a 24-hour workforce.
"We have selected to standardize on PTC's Windchill and Pro/ENGINEER because of their superior technology that fully supports IR's enterprise direction," said Marv Walrath, CIO, IR. "Our decision to partner with PTC was driven by their financial stability, forward-looking vision, and technological leadership which will enable us to achieve sustainable competitive advantage in the Internet age."
"PTC is committed to enabling companies, like IR, to manage and collapse their product development process through our powerful Internet-based solutions," said Paul Cunningham, executive vice president, North America Sales at PTC. "The IR selection and deployment of PTC's engineering and enterprise solutions as a standard is further validation our ability to provide industry-leading product development solutions that enable companies to get more innovative products to market faster and smarter."
PTC's Enterprise Solutions
Focused on all phases of a product's lifecycle -- from concept and definition to production, service, maintenance, and retirement -- Windchill advances collaborative product commerce (CPC) initiatives by allowing manufacturers to collaborate over the Internet with their customers, suppliers, and partners throughout the product development and delivery process. Windchill's unique Web-based approach springboards manufacturers into the Internet age, enabling them to capitalize on enterprise expertise, customer knowledge, and supplier innovation while accelerating the global introduction of innovative products to market with reduced risk and lower costs.
PTC's Engineering Solutions
The PTC i-Series of flexible engineering solutions, based on PTC's award winning Pro/ENGINEER software and the practices of PTC Global Services, is a group of design and engineering solutions focused at addressing collaborative product commerce engineering initiatives. These solutions are relied on daily by more than 250,000 users to drive their worldwide product development and engineering functions. The solutions use unique approaches with many patent-pending and award-winning technologies such as Pro/ENGINEER behavioral modeling that captures engineering knowledge and allows designers to innovate new products more rapidly and effectively.
The PTC i-Series of flexible engineering solutions, underpinned by PTC's Windchill software, also feature Pro/MECHANICA, DIVISION, Pro/DESKTOP, ICEM, CDRS, InPart, CADDS 5i, and MEDUSA.
General Disclaimer
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 anticipate and adequately respond to evolving customer requirements, to successfully work across a diversified and expanded user base to implement and support products and services that meet those requirements, and to successfully work with third parties to develop, integrate and support technologies that will enable PTC to offer competitive products 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. The announcement of any particular sales order is not necessarily indicative of the timing of recognition of revenue from such order or the level of revenue for any particular period PTC, Pro/ENGINEER, Windchill, Pro/MECHANICA, CADDS, MEDUSA, CDRS, ICEM, DIVISION, 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.
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