PTC and U.S. Army Enter Into Agreement Based on Windchill Solutions
PTC's Windchill Solutions to Provide Next-Generation Integrated Data
Environment Solutions for the Army's National Automotive Center
NEEDHAM, Mass., March 29 /PRNewswire/ -- PTC (Nasdaq: PMTC), the product development company(TM), today announced that it has entered into a multi-million dollar two-year research and development, cost-sharing agreement with the U.S. Army's National Automotive Center (NAC) in Warren, Michigan. The initial phase includes services and 4,000 licenses for PTC's Windchill software. The cost-sharing agreement provides for the potential expansion to 8,000 licenses over the next two years. The initial phase software was shipped during PTC's first fiscal quarter (ended December 30, 2000).
(Photo: newscom.com )
The NAC is the focal point for automotive collaborative research and development within the U.S. Army's Tank-automotive and Armaments Command (TACOM). This collaborative software development program falls under the federal government's Dual Use Science & Technology Program, which is designed to share the benefits of technology between the military and the private sector. PTC, acting as the prime contractor, will be working with a team comprised of General Dynamics Land Systems, Lockheed Martin Advanced Technology Laboratories, IITRI/AB Technologies, EDS, and Fakespace Systems to fulfill the U.S. Army's goals of fielding its Objective Force by 2008.
"Our established relationship with PTC is strengthened as they continue to deliver high-quality, affordable solutions, which help us meet our requirement of operating digitally by the year 2002," said Dennis Wend, director of the National Automotive Center. "PTC's Web-centric technologies are the next step that will lead to the creation of an enterprise-level and commercially-offered Simulation Based Acquisition (SBA) Environment. Interoperable, open- standards-based, and commercially supported technologies such as Windchill will dramatically lower the costs associated with the development of next- generation military and commercial automotive products."
Under the agreement, the NAC will use PTC's Windchill solutions as its Integrated Data Environment (IDE) across TACOM programs to support the Army's vision of reducing the cost of developing next-generation transport and weapons systems. In addition, R&D efforts will focus on providing enhanced, immersive environment capabilities, Web-centric project management solutions, and the development and deployment of a program manager IDE toolkit.
C. Richard Harrison, president and CEO at PTC said, "PTC has a strong history of partnership with the Army and other federal agencies to provide leadership for next-generation design and development systems. This agreement will accelerate the introduction of software functionality that will provide benefits throughout the industry. We look forward to continuing to build upon the relationship with TACOM and the NAC."
About PTC
PTC (Nasdaq: PMTC) develops, markets, and supports software solutions that help manufacturers get superior products to market before their competitors. PTC is the world's largest software company with a total commitment to product development. The company services more than 30,000 customers worldwide. Further information on PTC is available 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 co-develop and integrate technologies that adequately address the U.S. Army's requirements, The U.S. Army's continued deployment of PTC software solutions, and successfully coordinate and manage joint activities with third parties (including integration of third party technology, development, implementation and support) in order to deliver products and services 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 U.S. Securities and Exchange Commission, including 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.
PTC, The Product Development Company, Windchill, Pro/ENGINEER, 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.
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