Product category:
3D CAD software
News Release from: PTC - Parametric Technology (UK)
Edited by the Engineeringtalk Editorial
Team on 28 August 2002
PTC completes ICEM sale
PTC has completed the sale of its ICEM business in a buyout led by Lee Cureton, acting general manager of ICEM, and Indigo Capital, a leading UK-based financing provider to European businesses.
PTC has completed the sale of its ICEM business in a buyout led by Lee Cureton, acting general manager of ICEM, and Indigo Capital, a leading UK-based financing provider to European businesses Going forward, the business will continue to be operated under the ICEM name by its new owners
An agreement to sell the ICEM business was initially announced on 20th November 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 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.
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