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PTC acquires Frustum and partners with Rockwell Automation to boost IoT and AI offerings

November 22, 2018 / iottechnews

Massachusetts-based enterprise software firm PTC has announced that it has bought Colorado-based advanced generative design software company Frustum for about $70 million. Frustum’s generative design technology, which leverages AI to develop options for design, will prove to be a meaningful addition to the PTC Creo portfolio, the company added. Jim Heppelmann, president and CEO, PTC, said: “PTC is pushing the boundaries of innovation with this acquisition. 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.”