Thursday October 28, 10:48 am Eastern Time
Company Press Release
Parametric Technology Corporation Renews Strategic Alliance With
Hughes Electronic Corporation
WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 28, 1999--Parametric Technology Corporation (NASDAQ: PMTC - news) today announced that it has
renewed a key strategic alliance with Hughes Space and Communications Company, Los Angeles, Calif., a wholly owned unit of Hughes Electronics. With this
alliance Hughes Electronic business units will deploy PTC i-Series products and Windchill lifecycle applications.
``Hughes Space and Communications (HSC) strongly supports the renewal of this alliance. HSC will derive significant business value from PTC's integrated design
and analysis solutions coupled with strong data management capabilities,' said Joseph M. DeSarla, senior vice president of operations, Hughes Space and
Communications Company, an operating unit of Hughes Electronics and a leading manufacturer of satellites.
``Strong executive leadership, a forward-thinking technology vision and proven ability to deliver are critical factors in our selection of alliance partners,' said Radha
Radhakrishnan, vice president and chief information officer, Hughes Electronics.
``This alliance is evidence that PTC's strategic direction is in synch with the needs of world class companies like Hughes,' said C. Richard Harrison, president and
chief operating officer, Parametric Technology Corporation.
About Pro/ENGINEER and the PTC i-Series
The PTC i-Series is a continuum of interoperable mechanical design automation solutions employed by PTC's more than 227,000 users worldwide for the design,
engineering, manufacturing and support of products. All information is shared between these solutions using PTC's unique Associative Topology Bus, ensuring that
changes are propagated and shared with all product development participants. The Pro/ENGINEER design system -- the heart of the PTC i-Series -- features
PTC's new Behavioral Modeling technology which allows designers to innovate their products more rapidly and effectively. The PTC i-Series also features
Pro/MECHANICA, DIVISION, Pro/DESKTOP, ICEM, CDRS, InPart, CADDS 5 and MEDUSA.
About Windchill
Windchill brings product development to the web at Internet speed. Focused on all phases of a product's lifecycle -- from concept and definition to production,
service, maintenance and retirement -- Windchill advances product and process lifecycle management through its unique web-based approach, tightly integrating
suppliers and customers into the development process, increasing product innovation and speeding time-to-market for complex, customer-driven products.
About PTC
Parametric Technology Corporation, founded in 1985 and headquartered in Waltham, Mass., develops, markets and supports integrated collaborative product
commerce (CPC) solutions that help companies spur innovation and achieve sustained competitive advantage. PTC's software solutions are complemented by the
strength and experience of its professional services organization, which provides training, consulting and support to customers around the globe. In its fiscal year
ended September 30, 1999, the company achieved more than $1 billion in revenue. PTC can be reached at 781-398-5000, or via the web at ptc.com.
Except for the historical information contained herein, matters discussed in this news release may constitute forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include PTC's ability to anticipate and adequately
respond to evolving customer requirements and to deliver products and services in a timely manner that meet those requirements together with such other risks and
uncertainties as are detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including the PTC's most recent reports on
Form 10-K and 10-Q. The announcement of any particular sales order is not necessarily indicative of the timing of recognition of revenue from such order or the
level of revenue for any particular period.
Parametric Technology Corporation, Pro/ENGINEER, Pro/MECHANICA, Windchill and CADDS are registered trademarks, and all names in the PTC product
family as well as the PTC logo are trademarks of Parametric Technology Corporation, or its subsidiaries, in the United States and in other countries. All other
companies and products referenced herein have trademarks or registered trademarks of their respective holders. |
