Control Data and Parametric Technology Sign Definitive Agreement for Sale of ICEM Technologies.ARDEN HILLS, Minn.--(BUSINESS WIRE)--April 27, 1998--Control Data Systems, Inc. announced today that they have signed a definitive agreement with Parametric Technology Corporation |Parametric Technology Corporation]] Parametric Technology Corporation (PTC)(NASDAQ: PMTC) provides Product Lifecycle Management (PLM) engineering CAD/CAM software and content management and dynamic publishing solutions to more than 40,000 companies worldwide. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PMTC PMTC Prevention of Mother to Child Transmission (of HIV/AIDS) PMTC Pacific Missile Test Center PMTC Professional Multimedia Test Center ) for the purchase of Control Data's ICEM ICEM International Federation of Chemical, Energy, Mine and General Workers' Unions ICEM International Conference on Electrical Machines ICEM International Conference on Emergency Medicine ICEM Institut Cooperatif de l'Ecole Moderne Technologies division. Due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. is expected to be completed in 45 days. "We have been exploring strategic alternatives for our CAD business for some time and merging with the world's leading CAD Company will benefit both our employees and customers," said James Ousley, president and chief executive officer of Control Data Systems. "This sale will further our efforts to refocus Control Data Systems on our electronic commerce solutions business." "ICEM's best-in-class software tools for advanced surface modeling and reverse engineering are excellent extensions to the PTC (PTC, Needham, MA, www.ptc.com) Long a world leader in mechanical computer-aided design, manufacturing and engineering software, PTC, through acquisitions and reorganization, has transformed itself into a leading provider of Internet-based B2B solutions for discrete manufacturers. product portfolio," said Steven C. Walske, chairman and chief executive officer of Parametric Technology. "ICEM Surf is regarded by many in the industry as the premiere system for the creation and development of Class A surfaces. We expect this technology to significantly enhance our competitive position in automotive body engineering and styling applications." ICEM Technologies is a division of Control Data Systems dedicated to the development of advanced technologies for design and manufacturing. With more than 15 years of experience, ICEM Technologies' 150 employees help their customers worldwide gain a competitive advantage. Parametric Technology Corporation is one of the world's largest independent software companies and a leading supplier of software tools used to automate the mechanical development of a product from its conceptual design through production. Worldwide, nearly 20,000 companies employ PTC's integrated software Separate software components or applications that have been combined into one package. See integrated software package. technologies to reduce time-to-market, improve engineering processes, and optimize product quality. Parametric Technology's growth strategy emphasizes technological leadership, aggressive price/performance, hardware independence, worldwide distribution, and extensive customer support. Control Data Systems, Inc. is a global electronic commerce integration company dedicated to helping transform industries and client organizations through the design, implementation and operation of intranet/internet solutions and electronic collaborative communities. With its E-business applications, intranet/internet directory services, consulting and outsourcing professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. , the company helps business and government to improve their ability to communicate electronically and conduct business. For more information, call 1-888-742-5864 in the U.S. (1-612-415-2999 internationally) or visit our Web site at www.cdc.com. Contact: Control Data Systems, Arden Hills Greg C. McCullough, 612/415-4859 greg.c.mccullough@cdc.com |
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