PTC extends its CAD portfolio with artificial intelligence and generative design through the acquisition of Frustum
27 November 2018
PTC today announced the acquisition of Frustum Inc. , a leading provider of generative design software, for approximately $ 70 million. Frustum's Generative Design Technology - a method that uses Artificial Intelligence (AI) to create design options - is a transformative addition to the PTC Creo portfolio .
Based in Boulder, Colorado, Frustum provides patented and cloud-based engineering software that enables designers and engineers to leverage powerful AI capabilities to enhance their personal experience and develop next-generation, high-quality product designs.
"With this acquisition, PTC is setting new standards in innovation," said Jim Heppelmann, President and CEO of PTC. "Creo is at the heart of PTC's overall strategy, and with the built-in capabilities of ANSYS and now of Frustum, Creo achieves a leadership position in the world of design and simulation. With the development of breakthrough technologies such as AR / VR, high-performance computing, IoT, AI, and additive manufacturing, the CAD industry is experiencing a renaissance and PTC is poised to take a groundbreaking role. "
Frustum complements PTC's strategic relationship with ANSYS, announced at LiveWorx in June 2018 , and moves analysis to the beginning of the design process. Using the built-in capabilities of Frustum and ANSYS, Creo can recommend design methods with generative design, guide users through the iterative design process with ANSYS Discovery Live, and finally validate the full product with the more comprehensive ANSYS discovery package. These features built into Creo give engineers unsurpassed opportunities to accelerate product innovation.
"This acquisition was a logical step for PTC and its customers," said Jeff Hojlo, Program Director, Product Innovation, IDC. "AI and machine learning (ML) are widely considered to be two of the most significant technologies of the future. For Design, Engineering and R & D, the potential benefits of expanding the development process with KI and ML are noteworthy: lower quality costs (currently 20-25 percent of the average manufacturer's annual sales), higher product success rates (with 80 percent unsuccessful products still very low) and Optimal time-to-market and faster revenue recognition as customer expectations are met promptly and accurately. "