PTC and ITC Infotech to Expand 20-Year Alliance, Accelerate Customer Value Realization Through Digital Transformation, SaaS
Companies Bring PLM Experts to New ITC Infotech Business Unit
BOSTON and BANGALORE, India, April 22, 2022 /PRNewswire/ — CTP (NASDAQ:PTC) and ITC Infotech today announced an agreement to accelerate customer digital transformation initiatives focused on adopting PTC’s industry leader Windchill® Product Lifecycle Management (PLM) Software as a Service (SaaS). ITC Infotech will acquire a portion of PTC’s PLM implementation services business and create a new ITC Infotech business unit, called DxP Services, which will bring together PLM professional services experts from both companies. Together, the two companies will work together to provide “in-flight” Windchill implementation services to a wide range of existing PTC customers, while enabling an increasing number of customers to transition from their existing, sometimes highly customized, on-premises implementation. from Windchill. next-gen SaaS and best practices.
Across all aspects of business, digital transformation and SaaS adoption have become mainstream, with more than half of all commercial software expected to be sold as SaaS this year. In manufacturing, the SaaS adoption curve is accelerating, in part due to the COVID pandemic. To address this emerging market need, PTC is investing heavily to bring its entire product portfolio to the cloud through its PTC Atlas™ SaaS platform. With this new agreement, PTC and ITC Infotech will bring together professionals from both companies into a unified team dedicated to creating and jointly delivering the tools and methodologies needed to accelerate a smooth transition to SaaS.
“As a global provider of technology services and solutions, ITC Infotech shares a common goal with our partner PTC: to enable customers to adopt SaaS as the cornerstone of their digital transformation strategies,” said Sudip Sing, Managing Director and CEO, ITC Infotech. “PTC and ITC Infotech have a proven and trusted alliance formed over more than 20 years working together for the benefit of our mutual customers. The creation of DxP Services will take our relationship to a whole new level and enable PTC customers to transform how they embrace technology in the distributed, secure and agile workplace of the future.”
ITC Infotech has successfully partnered with its customers and helped them transform the way they consume technology, including adopting SaaS. The company’s deep understanding of innovation and the value that is realized at the intersection of technology, domain and industry makes it the partner of choice for its customers. Increasingly seen as the backbone of digital transformation, implementing PLM for industrial companies is one of ITC Infotech’s core competencies, with the company having successfully completed hundreds of PLM engagements global. Such expertise in the field, the longevity of the collaboration between the two companies, and the fact that many PTC implementation experts from PTC will join DxP Services will help ensure a smooth transition for customers when the new business unit begins operations. Over time, DxP Services plans to expand the range of services it offers.
“PTC’s strategy has long been to create a partner ecosystem that leverages the expertise and capability of systems integrators to drive business transformation and technology adoption among our global customer base.” , said Jim Heppelman, President and CEO, PTC. “Together with ITC Infotech, we are creating a dedicated team to unlock the potential of our Windchill Services business and accelerate manufacturers’ ability to realize the benefits of SaaS, such as accessibility, security and lower total cost of ownership. lower.”
Further accelerating PTC’s adoption of SaaS as a business paradigm, the company will focus its own services professionals on thought leadership related to realizing the value of the digital thread. PTC’s service experts are unique in their understanding of the value that can be created at the intersection of the technologies that drive an enterprise digital thread strategy – CAD, PLM, Internet of Things (IoT) and Augmented Reality (AR). ). PTC will apply this expertise to continue to drive digital transformation in the manufacturing landscape. PTC will continue to lead implementation services for customers with unique requirements, such as U.S. federal government security protocols, while continuing to collaborate with its global ecosystem of partners to drive digital thread initiatives and enable more customers benefit from PTC’s next-generation SaaS solutions across the company’s technology portfolio.
“This new agreement with ITC Infotech will allow PTC to realign its own professional services experts to a unique thought leadership role in the industry by enabling the digital transformation of industrial companies in the areas of engineering, manufacturing and services. services,” added Heppelmann. “PTC is investing heavily in next-generation SaaS solutions across its portfolio, and this team of experts will develop the roadmaps our customers need to increase the value they derive from technology and enable them to completely redefine the way work is done.
Subject to applicable closing conditions, the transaction is expected to close in the third quarter of PTC’s fiscal year. Management plans to discuss the expected impact of the agreement on PTC’s financial and operating metrics during its fiscal second quarter quarterly earnings conference call. April 27.
About ITC Infotech
ITC Infotech is a leading global provider of technology services and solutions, led by Business and Technology Consulting. ITC Infotech delivers enterprise-ready solutions to help clients succeed and be future-ready, seamlessly bringing together digital expertise, strong industry-specific alliances, and the unique ability to leverage the in-depth domain expertise of ITC Group companies. The company provides technology solutions and services to businesses in industries such as banking and financial services, healthcare, manufacturing, consumer goods, travel and hospitality, through a combination of traditional and newer business models. , as a long-term sustainable partner. ITC is one of india leading private sector companies and a diversified conglomerate with businesses spanning consumer goods, hospitality, cartons and packaging, agribusiness and information technology. For more information, please visit: http://www.itcinfotech.com/
PTC enables global manufacturers to achieve double-digit impact with software solutions that enable them to accelerate product and service innovation, improve operational efficiency and increase workforce productivity. ‘work. In combination with an extensive network of partners, PTC offers customers flexibility in how its technology can be deployed to drive digital transformation – on-premises, in the cloud, or through its pure SaaS platform. At PTC, we don’t just imagine a better world, we make it possible. For more information, please visit www.ptc.com.
Statements in this press release that are not historical facts, including statements about customers’ willingness to adopt SaaS solutions for their digital transformation initiatives, the development of technologies and methodologies to accelerate the transition to the SaaS, the effect of the transaction on customers and the expected closing of the transaction, are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks include: customers may be slower to adopt SaaS than expected or may adopt competing SaaS solutions; the development of technologies and methodologies to accelerate customers’ transition to SaaS may not occur when or as expected; significant disruptions may occur among employees and/or customers, causing them to terminate their relationship with PTC or ITCI; and, the closing of the transaction may not occur when or as expected if the conditions to closing are not satisfied or if the transaction is otherwise terminated. Additional risks and uncertainties that could cause PTC’s actual results to differ materially from those projected are detailed from time to time in PTC’s filings with the Securities and Exchange Commission, including PTC’s most recent annual report. on Form 10-K and quarterly reports on Form 10-Q.
PTC, Windchill, PTC Atlas and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or its subsidiaries in the United States. United States and other countries.