Raytheon Stays With PTC

Awards $10.4 million for software and services to product development provider

Needham, MA  December 16, 2002  Raytheon Co., a defense and aerospace company, has ordered a $10.4 million, multi-year follow-on for software upgrades, new modules and services from product development company PTC, the provider announced.

Raytheon's government, defense and commercial electronics businesses have standardized on PTC's flagship software, Pro/ENGINEER and its family of related technologies, for product design and development.

The new software will be used to support Raytheon's global initiatives in an international network of 34 sites over three continents. Raytheon said its corporate product development initiatives are designed to help deliver world-class systems with lower costs and improved lifecycle supportability.

"Raytheon understands the importance of product development and putting the product first," said Paul Cunningham, executive vice president, Americas Sales at PTC. He added that his company could assist Raytheon in driving growth and profitability by enhancing their product development.