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Print Edition StoriesMonday, June 8, 2009
PTC buys data analysis firm Relex
By Mass High Tech staff
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Parametric Technology Corp., the Needham-based product development software and services firm, has bought Relex Software Corp., a Pennsylvania developer of design and field data analysis software and services. The acquisition was announced without disclosure of financial details.
Privately held Relex was founded in 1986 and employed 50 workers, though neither company offered information on whether the employees would be retained following the acquisition. Relex products are used in the automotive, industrial equipment, electronics, telecommunications, medical equipment, aerospace and defense industries.
Relex software products are designed to give users closed-loop field performance feedback; reliability reporting; reliability prediction and simulation; and early reliability planning and risk assessment.
PTC announced in December its acquisition of environmental regulatory compliance firm Synapsis Technology Inc., of Spring House, Pa. Synapsis developed compliance tracking of products, parts and materials to follow the lifecycle of a product. PTC officials said the company buyout would help it develop a compliant product development process, rather than costly post-production changes to meet compliance.
PTC (Nasdaq: PMTC), founded in 1985, is one of New England’s leading tech companies, with nearly 4,900 employees and a $2.2 billion market capitalization. The company develops computer-aided design software. It 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.
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