PTC® Advances Green Product Design And Environmental Regulatory Compliance Solution With Acquisition Of Synapsis Technology
Best-In-Class Solution Supports REACH and Other Environmental Regulations
NEEDHAM, Mass. - December 10, 2008 - PTC (Nasdaq: PMTC), the Product Development Company®, today announced it has acquired the business assets of Synapsis Technology, Inc., based in Spring House, Pa. Synapsis provides environmental regulatory compliance solutions to leading customers including Motorola, Microsoft, Sony Ericsson, Visteon, Delphi, IBM, GE, Beckman Coulter, Teradyne and Cisco. The company is privately held and has approximately 25 employees. Financial terms of the acquisition were not disclosed. With this acquisition PTC will broaden its support for green product design and enable customers to achieve compliance with REACH and other environmental regulations.
Environmental regulatory compliance and "green" product design are increasingly important across all industries. Faced with a growing set of standards and environmental compliance regulations on product development including the European Union's (EU's) RoHS, WEEE, ELV, REACH, China's RoHS, as well as others, there is growing demand from manufacturers for a scalable platform to support green design initiatives.
The EU's Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) regulation is the latest in a rapidly growing list of environmental regulations across the globe. REACH targets hazardous substances in products, termed substances of very high concern (SVHC), and may ban up to 3,000 chemicals used in a wide variety of products. A failure to demonstrate compliance with REACH and other regulations can have severe consequences, threatening product viability and revenue.
Synapsis' patented solution supports product compliance tracking at the substance, material, part and product levels to improve data collection, analysis and reporting from the beginning of product design to final disposal and recycling. With these capabilities, Synapsis helps manufacturers manage compliance with REACH, as well as RoHS, WEEE, ELV, and China RoHS.
PTC's Product Development System (PDS) provides an integral, scalable platform that leverages PTC's unique combination of strengths to help companies achieve their business goals through product development process optimization. With the Synapsis solutions, PTC will expand the capabilities of its PDS to help companies build environmental compliance into the product development process, managing compliance with existing and future environmental regulations. By proactively addressing compliance during product design, companies can avoid after-the-fact redesigns, ultimately reducing costs and improving quality and time-to-market.
"Environmental regulatory compliance is an escalating business challenge for customers across all industries. The constantly increasing number and scope of new regulations adds further complexity to the product development process and must be addressed in a holistic way," said James Heppelmann, executive vice president and chief product officer, PTC. "Synapsis best-of-breed solutions fully complement the PTC PDS. This acquisition benefits PTC customers by enabling them to fulfill global compliance requirements and achieve success with environmentally-aware design and other "green" product development initiatives."
"Many leading companies have standardized on Synapsis solutions for RoHS, ELV and REACH product compliance due to our patented analysis approach that delivers the most accurate results available commercially," said Andrew Wertkin, chief technology officer and co-founder of Synapsis. "The incorporation of Synapsis technology with PTC's world class product development system will create a uniquely powerful combination that weaves compliance into the complete product lifecycle, enabling companies to better manage current and future regulations."
Synapsis solutions are available immediately from PTC. In the near future, PTC will announce further details regarding the timing and availability of an integration with Windchill®, PTC's content and process management solution.
The timing of any product release or integration, including any features or functionality, is subject to change at PTC's discretion.
For more information about the acquisition, please visit: http://www.ptc.com/company/synapsis/.
About Synapsis Technology, Inc.
Synapsis provides software and services that help manufacturers improve the environmental performance of their products and supply chains. Synapsis customers include: Abbott, American Power Conversion (APC), Beckman Coulter, Cisco Systems, Delphi Corporation, Emerson Electric, GE Healthcare, IBM, Microsoft, Motorola, Seagate, Sony Ericsson, Teradyne, and Xerox. Synapsis was founded in 1999 and is headquartered in Spring House, Pa.
PTC (Nasdaq: PMTC) provides leading product lifecycle management (PLM), content management and dynamic publishing solutions to more than 50,000 organizations worldwide. PTC customers include the world's most innovative companies in manufacturing, publishing, services, government and life sciences industries. PTC is included in the S&P Midcap 400 and Russell 2000 indices. For more information on PTC, please visit http://www.ptc.com.
This news release contains forward-looking statements, including statements about expected future product plans and integration of the companies’ technologies and resulting revenue, earnings and operating margins. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including the following: we may be unable to simultaneously achieve our revenue expectations and improve our operating margins and earnings; we may be unable to successfully operate the businesses to achieve the expected increases in revenue, earnings and operating margins; we may be unable to successfully develop and integrate the technology necessary to offer an integrated solution that complements PTC’s product development system; we may be unable to retain and maintain relationships with key employees, customers and other strategic partners of Synapsis; current economic conditions could cause our customers to reduce or forego investment in our solutions and/or could negatively impact our ability to collect receivables due from our customers, either of which would negatively impact our cash from operations and thereby reduce amounts available to invest in our business initiatives, including continued technology acquisitions, as well as other risks and uncertainties detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including the Company’s most recent reports on Form 10-K and 10-Q. PTC and its logo, The Product Development Company, Pro/ENGINEER, Wildfire, Windchill, Arbortext, Mathcad, CoCreate, CADDS, Windchill ProjectLink, Windchill PDMLink, Windchill PartsLink, Windchill DynamicDesignLink Windchill MPMLink, ProductView, Optegra, InterComm, IsoDraw, IsoView, FlexPLM 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.