PTC Completes Sale of ICEM Business

NEEDHAM, Mass.- August 23, 2002 - /PRNewswire-FirstCall/ -- PTC, (NASDAQ:PMTC), the product development company(TM), today announced that it has completed the sale of its ICEM business in a buy-out led by Lee Cureton, acting general manager of ICEM, and Indigo Capital Limited, a leading UK-based financing provider to European businesses. Going forward, the business will continue to be operated under the ICEM(R) name by its new owners, ICEM Limited. An agreement to sell the ICEM business was initially announced on November 20, 2001 

The sale by PTC of ICEM Surf is another step in PTC's on-going efforts to focus on its strategic core technology. PTC will continue to offer surfacing capabilities as part of its Pro/ENGINEER(R) design solutions and a strong integration between Pro/ENGINEER and ICEM Surf.

Financial terms of the transaction were not disclosed. PTC does not expect the sale to have a material impact on its revenue or earnings.

About PTC

PTC (NASDAQ:PMTC) develops, markets, and supports software solutions that help manufacturers win with superior products. PTC is the world's largest software company with a total commitment to product development. The company services more than 33,000 customers worldwide.

http://www.ptc.com 

 

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