Parametric To Buy Ohio Design Automation

Product lifecycle-management vendor Parametric Technology Corp. on Thursday extended its reach into the high-tech and electronics industries with the acquisition of Ohio Design Automation Inc., a maker of electronics design collaboration software for the electronics industry. The all-cash deal is valued at $12 million.

The acquisition will add to Parametric's portfolio Ohio Design Automation's suite of applications designed to give engineers, manufacturers, and customers easy access to complex design data; the apps will be integrated with Parametric's Windchill product lifecycle-management software. Parametric is also gaining a roster of customers in more than 400 companies around the world, including Cisco, Motorola, and Raytheon.

PTC also said it expects revenue of approximately $164 million for its second quarter ended April 3, exceeding the company's prior guidance of $150 million to $160 million for the quarter.

The company also reported that it expects break-even earnings per share on a GAAP basis, compared to an earlier guidance of a net loss per share of 5 cents to 9 cents. It's expected to announce final results for the second quarter on April 21.