Summary
PTC has acquired Frustum for $70 million in an all-cash transaction.
Frustum has developed CAD software that combines AI with generative design functionalities.
PTC is gaining a technology set to plug into its Creo system to help clients reduce design costs and speed time-to-market.
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Quick Take
PTC (PTC) announced it has acquired Frustum for $70 million in cash.
Frustum has developed AI-powered generative product design technology.
PTC has made an excellent strategic purchase to enhance its Creo portfolio of capabilities to help customers drive further design cost efficiencies and improvements.
