PARAMETRIC TECHNOLOGY CORP. AND ICAD INC.
announce strategic relationship: ICAD integrates its Knowledge-Based Engineering system with PTC's Pro/ENGINEER(R) mechanical design automation software
Business Editors & Computer Writers
WALTHAM, Mass.--(BUSINESS WIRE)--April 26, 1994--Parametric Technology Corp. (NASDAQ: PMTC), developer of the Pro/ENGINEER family of mechanical design automation software, Tuesday announced that it has entered into a strategic relationship with ICAD Inc. of Cambridge, Mass.
As part of this relationship, ICAD has joined Parametric Technology's Cooperative Software Program (CSP), which enables companies with complementary product offerings to integrate their tools into the Pro/ENGINEER environment.
As a new CSP member, ICAD has integrated its Knowledge-Based Engineering software, The ICAD System(TM), with Pro/ENGINEER. The resultant product -- ICAD Integration to Pro/ENGINEER(R) -- combines the feature-based, fully associative mechanical design automation capabilities of Pro/ENGINEER with The ICAD System, which contains knowledge and expertise contributed by a company's most experienced engineers.
Through the Pro/ENGINEER interface, users can access this expertise to automatically select, size, configure, and position Pro/ENGINEER geometry. By introducing knowledge from various corporate disciplines up-front in the product-development process -- and freeing engineers from time-consuming, error-prone tasks -- ICAD Integration to Pro/ENGINEER(R) helps companies focus on reducing time to market and improving quality.
"We are pleased that ICAD has joined the Cooperative Software Program and integrated its knowledge-based system with Pro/ENGINEER," said Louis J. Volpe, Parametric Technology's senior vice president of marketing and operations. "PTC customers using The ICAD System recognize the value of leveraging past successes, and will benefit from ICAD's new product through easier access to their expert knowledge."
"The integration of PTC's feature-based software and ICAD's knowledge-based software provides companies the power to access their best product-development practices while further leveraging their investment in Pro/ENGINEER," said Larry Rosenfeld, chairman and CEO of ICAD. "We are enthusiastic about partnering with PTC to make the benefits of engineering automation available to our joint customers."
ICAD is the world's leading provider of Knowledge-Based Engineering (KBE) software and services. Its customers rank among the most innovative manufacturing companies in the aerospace, automotive, industrial equipment and consumer products industries. ICAD's products provide knowledge-driven automation models which produce order-of-magnitude improvements in engineering lead-time, greatly reducing time to market and product costs while maximizing product quality.
Parametric Technology Corp. has emerged as the leader in the mechanical design automation industry. Its new generation of CAD/CAM/CAE technology is revolutionizing the mechanical design automation process with a strategy that emphasizes technological leadership, aggressive price/performance, hardware independence, worldwide distribution, and extensive customer support.
NOTE TO EDITORS:
Pro/ENGINEER is a registered trademark of Parametric Technology Corporation. The ICAD System is a trademark of ICAD Inc.