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PTC and Schaeffler Expand Strategic Relationship with Adoption of Windchill+ PLM

1. Schaeffler adopts PTC's Windchill+ PLM for modernization. 2. Cloud transition accelerates development time and collaboration benefits. 3. Collaboration on AI-driven product development initiatives planned. 4. Schaeffler aims to enhance digital transformation in product lifecycle management. 5. Longstanding partnership expected to evolve with Schaeffler's merger.

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Why Bullish?

The adoption of a cloud-based PLM solution by Schaeffler signifies strong demand for PTC's services, reflecting positive market sentiment and reinforcing PTC's competitive position in digital transformation. Historically, similar adoptions have resulted in significant revenue growth for firms in software services, pointing to an increased capability for PTC to capture market share and boost sales in cloud-based solutions.

How important is it?

The article emphasizes PTC's strategic partnership with Schaeffler and the anticipated growth from such collaborations. This aligns with PTC's growth strategy in cloud-based solutions, underscoring a strong potential impact on stock performance.

Why Long Term?

The expected collaborative efforts on AI and continued sales of Windchill+ showcase a lasting relationship that could yield substantial long-term revenues. Given the ongoing digital transformation across industries, PTC stands to benefit as more companies modernize their product management systems.

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Leading global automotive and industrial supplier continues product development modernization with transition to cloud-based Windchill+ PLM Windchill+ offers speed of deployment, upgrade, and collaboration benefits to help customers accelerate development time PTC and Schaeffler expect to collaborate on AI-driven product development initiatives , /PRNewswire/ -- PTC (NASDAQ: PTC) today announced that Schaeffler, a leading motion technology company, will adopt PTC's Windchill+® product lifecycle management (PLM) solution as it continues modernizing its product development practices and working to accelerate time to market. As part of a broader cloud-driven transformation effort, Schaeffler is transitioning from its on-premises Windchill® environment to a cloud-based Windchill+ environment to unlock speed of deployment, upgrade, and collaboration benefits that are unique to cloud solutions. Image courtesy of PTC. "Schaeffler's adoption of Windchill+ represents the next step in the strategic relationship our companies have shared over the last decade," said Neil Barua, President and CEO of PTC. "We're confident that the benefits of Windchill+ - including collaboration, ease-of-use, and always being on the latest version with the newest features – will enable Schaeffler to accelerate its product development processes and build on its position as an industry leader." Over the last decade, Schaeffler has utilized PTC's product development software to develop some of the most advanced and differentiated offerings in the automotive industry, including engine, transmission, and chassis systems and electric drives. The relationship is expected to see further expansion following the successful merger of Schaeffler and Vitesco Technologies in October 2024. Schaeffler utilizes PTC software to define the hardware and software requirements of its products with application lifecycle management (ALM), to design its products with computer-aided design (CAD), to manage product configurations in PLM, and to extend this data into the manufacturing process with PLM-based solutions such as Windchill Navigate™. PTC and Schaeffler expect to collaborate on artificial intelligence-driven product development initiatives, leveraging the product data managed across PTC's product development portfolio, to enable Schaeffler to further accelerate its product development process."Schaeffler has been an industry leader for over 75 years and recognizes the importance of continued transformation in digitalization to deliver best-in-class products for our global customers," said Rainer Eidloth, Senior Vice President Engineering Digitalization & IT at Schaeffler. "Accelerating the product development process and embracing a cloud-first strategy are two of our highest priorities, and our longstanding relationship with PTC plays a crucial role in this effort. We look forward to continuing our close collaboration as we make this shift to Windchill+ and continue advancing our product portfolio."Forward-Looking StatementsThe announcement of a customer's selection or adoption of PTC software is not necessarily indicative of the timing or amount of ARR or revenue therefrom or of the Company's overall ARR or revenue for any particular period, or that the necessary implementation and deployment activities are complete.About PTC (NASDAQ: PTC) is a global software company that enables manufacturers and product companies to digitally transform how they design, manufacture, and service the physical products the world relies on. Headquartered in Boston, Massachusetts, PTC employs over 7,000 people and supports more than 30,000 customers globally. For more information, please visit www.ptc.com.MediaGreg Payne[email protected]InvestorsMatt Shimao[email protected]PTC, Windchill, Windchill+, Navigate, and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or its subsidiaries in the United States and other countries.SOURCE PTC Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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