PTC and Schaeffler Expand Strategic Relationship with Adoption of Windchill+ PLM
Rhea-AI Summary
Schaeffler, a leading motion technology company, is upgrading its product development capabilities by adopting PTC's Windchill+ cloud-based product lifecycle management (PLM) solution. This transition from on-premises Windchill to cloud-based Windchill+ marks an expansion of their decade-long strategic partnership.
The move follows Schaeffler's successful merger with Vitesco Technologies in October 2024. The company currently uses PTC's software suite for various functions, including:
- Hardware and software requirements definition (ALM)
- Computer-aided design (CAD)
- Product configuration management (PLM)
- Manufacturing process integration
Both companies plan to collaborate on AI-driven product development initiatives, leveraging PTC's product development portfolio. The cloud transition aims to enhance deployment speed, upgrade capabilities, and collaboration benefits, ultimately accelerating Schaeffler's time to market for its automotive and industrial products.
Positive
- Strategic expansion with Schaeffler, a major automotive supplier, adopting PTC's cloud-based Windchill+ PLM solution
- Strengthening of decade-long relationship with key customer following Schaeffler-Vitesco merger
- Expansion into AI-driven product development initiatives with Schaeffler
- Multiple PTC products being utilized by Schaeffler (ALM, CAD, PLM solutions)
- Cloud transition indicates potential for recurring revenue growth through SaaS model
Negative
- Company disclaimer indicates uncertainty in timing and amount of revenue from the deal
- Implementation and deployment completion timeline not specified
- No specific financial terms or contract value disclosed
News Market Reaction – PTC
On the day this news was published, PTC gained 0.86%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
- 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
"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 Statements
The 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
Media
Greg Payne
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PTC, Windchill, Windchill+, Navigate, and the PTC logo are trademarks or registered trademarks of PTC Inc. and/or its subsidiaries in
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SOURCE PTC Inc.
FAQ
What is Schaeffler's transition to PTC Windchill+ PLM in 2025?
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