Onshape offers a subscription-based product that combines computer aided design (CAD) with data management.
At its core, Onshape helps designers, engineers, suppliers and contractors develop product.
“With traditional file-based CAD, your product designs and intellectual property are subject to unauthorized duplication, data breaches, or even accidental sharing,” according to Onshape’s website.
Yet within CAD and product management, the SaaS model hasn’t quite caught on in comparison to the slew of startups above.
For example, PTC just transitioned to offer a subscription licensing option in January 2019.
The acquisition, per the press release, is part of PTC’s larger strategy to grab new customers and “capitalize on the inevitable industry transition to SaaS.”