PTC completed its $470m acquisition of Onshape.

PTC, which develops and delivers technology solutions, comprised of software and services, completed its $470m acquisition of Onshape, a developer of the SaaS product development platform that unites robust computer-aided design software with powerful data management and collaboration tools. The acquisition positions PTC to capitalize on the inevitable industry transition to SaaS. “We expect our acquisition of Onshape will enhance the momentum we’re seeing with our Creo and Windchill products,” Jim Heppelmann, PTC President and CEO.