OnShape sold to PTC
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  1. #1
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    Default OnShape sold to PTC

    Hirschtick emailed out the announcement yesterday at 3:38 pm pacific time.

    (RTTNews) - PTC (PTC) Wednesday said it has agreed to buy Onshape for approximately $470 million in cash. The acquisition is expected to accelerate PTC's ability to attract new customers with a SaaS-based product offering and position the company to capitalize on the inevitable industry transition to SaaS.

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    That should be interesting.

    I've been making the switch to the new PTC over the past two months and really liking it. It's like having the power of NX, with the speed of Featurecam and the 5X options of Powermill all wrapped into one. Onshape is great because it works on my Ipad and doesn't make me drag a laptop everywhere I go.

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    I tried the PTC program and while very powerful it's missing some measuring features that I needed.

    I decided to just buy a high power, ultra thin laptop to lug around

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    $470 million, 5,000 subscribers. That's $94,000 per subscriber.
    Or at a subscription price of $1500 or $2100 per year, that's only 44 years of current subscription revenue.

    I realize the purchase is not for the user base, but that's still a pretty good sales job hoping what they eventually implement will play out profitably in the long term.

    I didn't think PTC had that kind of cash to throw around anymore.

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    Quote Originally Posted by jeffj View Post
    $470 million, 5,000 subscribers. That's $94,000 per subscriber.
    Or at a subscription price of $1500 or $2100 per year, that's only 44 years of current subscription revenue.

    I realize the purchase is not for the user base, but that's still a pretty good sales job hoping what they eventually implement will play out profitably in the long term.

    I didn't think PTC had that kind of cash to throw around anymore.
    yep seems like big price. But they also eliminate a source of competition. Not that it was a big one. I am sure they want to "up sell" a lot of the other products they offer. Plus they start off basically at the front of the cad SaaS game.

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    Quote Originally Posted by as9100d View Post
    I tried the PTC program and while very powerful it's missing some measuring features that I needed.

    I decided to just buy a high power, ultra thin laptop to lug around
    Was that the new 6.0 with the new UI? It's all different from from 5. What features was it missing that you needed?

    As far as lugging around a laptop, spend four or five days a week in the air and laptops of any size get old real fast.

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    I predict -- sadly -- that this is the beginning of the end for Onshape. I've seen it happen too often.

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    it seems to me that PTC has been buying software companies for several years now. They seem to think it's easier to integrate other software into what they already have rather than develop new features themselves. they also get the other companies user base as stated above.

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    Quote Originally Posted by Yan Wo View Post
    I predict -- sadly -- that this is the beginning of the end for Onshape. I've seen it happen too often.
    There may well be code PTC wanted so they simply snatched it up. If that is the case then hopefully PTC will make good use of the code since a lot of jobs are on the line.

    Yes, happens all the time. Long before Siemens, and also before UGS, when EDS owned Unigraphics they snatched up SDRC (Structural Dynamics Research Corporation) to get what they liked about I-DEAS software and arguably from CAMAX too, the undisputed cam leader from that period.

    Hear much about I-DEAS lately? Me neither but its better parts of code still exists today in NX and Solid Edge.

    Oh, and the NX user groups became bigger too.

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    Quote Originally Posted by Yan Wo View Post
    I predict -- sadly -- that this is the beginning of the end for Onshape. I've seen it happen too often.
    Agreed. I’m sure there will be a migration deal, some stragglers and a fairly small office for a measly bare-bones tech support. OnShape already has its own inherit problems, and I’d bet they’ll start to come further out of the cracks when the biggest benefit (having the software run on someone else’s better computer) becomes a hinderance.

    What a shame. They were an underdog team with a “stick it to the man” attitude, but I guess money talks.

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    Awfully hard to walk away from that kind of money!! I sure couldn't or wouldn't

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    Quote Originally Posted by jeffj View Post
    $470 million, 5,000 subscribers. That's $94,000 per subscriber.
    Or at a subscription price of $1500 or $2100 per year, that's only 44 years of current subscription revenue.

    I realize the purchase is not for the user base, but that's still a pretty good sales job hoping what they eventually implement will play out profitably in the long term.

    I didn't think PTC had that kind of cash to throw around anymore.

    Where did you get the 5000 user number from? That seems very, very low....

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    Quote Originally Posted by TonyStark View Post
    Where did you get the 5000 user number from? That seems very, very low....
    That might have been from a PTC press release, though it's hard to see the benefit of making that statistic public.

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    Quote Originally Posted by TonyStark View Post
    Where did you get the 5000 user number from? That seems very, very low....
    It's in the Press Release ironman PTC to Acquire Leading SaaS Product Development Platform Provider Onshape | PTC

    I suppose 5,000 subscribers does not automatically mean only 5,000 subscriptions.
    Last edited by jeffj; 11-11-2019 at 03:57 PM.


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