PTC buys Synapsis to meet environmental compliance

By Mass High Tech staff

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To meet a growing number of environmental demands, Parametric Technology Corp. (PTC) has bought the business assets of environmental regulatory compliance firm Synapsis Technology Inc., of Spring House, Pa.

Privately held Synapsis develops compliance tracking of products, parts and materials to follow the lifecycle of a product.

No financial details of the deal were disclosed.

PTC (Nasdaq: PMTC) and other global companies face environmental regulations imposed from other countries, including RoHS, WEEE. ELV and REACH from the European Union, as well as RoHS in China. With Synapsis, PTC officials said it can develop a compliant product development process, rather than costly post-production changes to meet compliance.

Needham-based PTC develops computer-aided design software. The company made news this fall when it announced that it may be seeking a buyer, generating more buzz than the news that it may end its fiscal year with a billion-dollar top line for the first time in a decade.

PTC, founded in 1985, is one of New England’s leading tech companies, with nearly 4,900 employees and a $2.2 billion market capitalization.

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