PTC acquires Onshape, ends quarter on a high note

It’s been a busy fall in the design and engineering industry, but PTC and Onshape still managed to shake up the industry. PTC announced plans to acquire Onshape for $470 in cash. PTC used its financial call to talk about the acquisition. In his opening remarks, Heppelmann said the deal is part of a “near era of Software as a Service or SaaS in the product development industry.” He noted that Onshape is really the industry’s only pure, multi-tenant SaaS platform and it is a perfect complement to the work PTC is already doing in the market with its tools