PTC signed an agreement with the Technion to establish a center for robotics and digital content
The agreement includes the option to expand the cooperation in the future to include the Technion institutions in the USA and China
The scope of the investment is 7 million dollars
X May, 2014 PTC Inc. signed an agreement with the Technion to support the establishment of a center for robotics and digital content in the department of Education in Science and Technology, investing 7 million dollars. Within the framework of this agreement, PTC will finance the creation of the center and its operational costs for the first 3 years. PTC has been operating in Israel for over 20 years. The Israeli branch is one of 3 worldwide development centers. PTC employees will take part in various activities of the Robotics Center. In addition, PTC will make its software available to Technion students in the new center. Both sides favorably view the possibility to expand the cooperation and include Technion institutions in the US and China.
PTC Inc. is an American company based in Boston (Needham, MA) and traded on the NASDAQ. The company has over 6,000 employees and sales in 2013 of a billion and three hundred million dollars. PTC customers are some of the largest manufacturers in the world, including: Toyota, Lockheed Martin, Boeing, Audi, Caterpillar, General Electric, Raytheon, EADS, Samsung, Dell, Toshiba, Motorola, and more.
PTC’s office in Israel was established in 1991 as the first development center outside of the US. Today this development center employs about 250 professionals in Haifa and Herzliya. Outside of the US, it is the second largest PTC development center in the world. In recent years, PTC has named the Israeli office a strategic development center and as a result the office has tripled in size in less than a decade. The Israel office is responsible for developing PTC’s leading products that are sold worldwide.
With PTC’s software clients can design products in 3D. They can manage all aspects of the product life cycle starting with concept and design and ending with production and support. The software allows PTC’s clients to digitally design the product, visualize it in three dimensions, and examine how each of its components fit together. Clients and vendors can test the product during the design and easily modify it before going to production.
Ziv Belfer, Manager of the PTC Israel development center states: “We are excited about signing the agreement with the Technion and about taking part in the establishment of the new center. As a company that develops new technologies, we value technological education. The Technion is considered one of the leading academic institutions in the fields
of engineering and technology and such cooperation is another step in the advancement of technological education in Israel and abroad.”
Prof. Boaz Golani, Vice President for External Relations and Resource Development at the Technion, stated that: “The Technion welcomes partnerships with technology companies that enrich the curriculum and contribute to the students learning experience. The agreement is a further step in an extensive range of existing connections between the Technion and educational institutions in the State of Massachusetts. PTC’s contribution is yet another evidence for the Technion’s reputation and international recognition as one of the leading institutions in the world in science and technology.”
For more information: Idit Rosenberg, Media-PR, 052-8527125