Needham-Based PTC Acquires Longtime Partner

New Jersey-based NetIDEAS, a company which has provided PTC with software hosting and technical consulting services for about a decade. As of about last week, the company is under new management. 

Parametric Technology Corp (PTC) announced last week that they have acquired longtime partner NetIDEAS in a press release on their website. The company provided hosting for PTC's Windchill®, among other products. 

"Today is the culmination of a relationship more than a decade strong, and I believe this is an exciting opportunity for PTC, its customers, and the industry," stated Marc Diouane, Executive Vice President, Global Services & Partners at PTC in the press release. "This next stage of our relationship will yield positive benefits for the industry, as PTC guides its customers along multiple deployment paths to maximum technology value."

Boston Business Journal notes that the acquisition was announced one week after PTC commenced a $20 million restructuring plan. A spokesperson told BBJ that they cannot comment on whether the Marlton, NJ office of NetIDEAS will remain open, nor on the financial specifics of the acquisition.

PTC software was also used recently to design the 2012 Hanukkah menorah which stood outside of Town Hall, and the company kicked off last fall's FIRST Technology challenge and the Real World Design Challenge.