There is a direct correlation between the proliferation of augmented reality apps and the demand for 3D content. PTC figured this only in US dollars.
On Wednesday, the company committed $ 470 million to acquire Onshape, a manufacturer of computer-aided design (CAD) software that has funded more than $ 150 million and more than 5,000 subscribers since its inception in 2012 Has. Barclays advised PTC on the acquisition.
Onshape provides its platform with recurring revenue streams through the Software-as-a-Service (SaaS) model in addition to existing CAD offerings that provide customers with easy-to-implement CAD capabilities and give users access to everyone's software Desktop or mobile device.
"Today we see small and mid-size CAD customers in The fast-growing part of the CAD market is shifting its interest towards SaaS delivery models, and we expect the interest of larger customers to increase over time," said Jim Heppelmann, President and CEO of PTC, in a statement . "The acquisition of Onshape complements our local business with the industry's only proven, scalable, pure SaaS platform that will open new growth opportunities for CAD and PLM and position PTC as a leader in the transition to the SaaS model."
The software also includes data management and collaboration capabilities that enable large teams of designers and developers to more efficiently create content. Think of it as Google Docs, where users can edit the same file in a live flow.
Onshape will operate as a business unit within PTC, as does Vuforia, the popular augmented reality platform acquired by Qualcomm's PTC 2015, for $ 65 million.
"PTC has built a reputation for successfully driving new innovations that drive business growth," said Heppelmann.
Between Onshape and Vuforia, PTC can now deliver the software to teams who work together to create CAD-based 3D designs and content and tools to integrate that content into augmented reality experiences.
"When you think of our Augmented Reality platform Vuforia, and especially parts of it like Vuforia Studio, as we call it, it's really 3D authoring and publishing. It's about 3D web pages with the exception of their weaving forms, and on the other end using Computer Vision to render them against the real world, "said Heppelmann during an investment or webcast on the acquisition.
Although CAD provides a number of use cases, especially in the areas of engineering and product design, outside of augmented reality compared to other content creation technologies, creating precise 3D models for AR experiences and provision of markers for object recognition. And developers of AR experiences can benefit from the same data management features as engineers and product designers.
"An important core component of Vuforia is the creation of 3D data and data management as well as collaboration and process. [are] There is tremendous synergy between Vuforia, a 3D application that requires data management and collaboration, and Onshape, a 3D application that excels in data management and collaboration, "said Heppelmann. "We're going to get some quick benefits in the world of Vuforia and Onshape's approach, and that will give these two brands some incredible capabilities, as Onshape will soon have amazing AR capabilities, and Vuforia will soon have superior data management and collaboration capabilities in a seamless process . "
In addition, Onshape provides PTC and Vuforia with additional insight into the Magic Leap ecosystem. Onshape has adapted its CAD software for Magic Leap One so that multiple users can collaborate on a 3D design in augmented reality. This means that with the start of Onshape's integration with Vuforia, AR developers could have the opportunity to create the 3D content for their AR apps in AR.
Onshape was founded by Jon Hirschtick, John McEleney and John in Cambridge, Massachusetts. Dave Corcoran was instrumental in the development and growth of another 3D CAD platform: Solidworks, developed by Dassault Systems in 1997 for $ 310 million.
"At Onshape, we share PTC's vision of helping organizations transform the way they develop products," said Jon Hirschtick, CEO and co-founder of Onshape (who also served as Magic Leap's consultant and longtime Friend of Magic Leap CEO Rony Abovitz was). "We and PTC believe that the product development industry is nearing the turning point for SaaS adoption of CAD and data management tools and we look forward to providing our customers with the latest innovations to enhance their competitive position."
The acquisition of 3D content technology was widespread throughout 2019. Recently, Verizon selected the volumetric video supplier Jaunt, while Apple acquired the motion capture company iKinema. At the beginning of this year, Adobe took over Alleythmic, the manufacturer of 3D content software, while Magic Leap made Mimesys and its 3D telepresence technology part of its business. At the end of the investment, Matterport completed a $ 48 million financing round for its 3D content capture technology.
With its own acquisition, PTC has not only strengthened its CAD offerings, but also created a new solution for the efficient creation of 3D content and augmented reality experiences.