PTC (Nasdaq: PMTC), the Product Development Company, announced it has entered into a definitive agreement to acquire Arbortext, Inc. for $190 million in cash. With this acquisition, PTC will enable customers to create, manage and dynamically publish critical information concurrently with the development of related products or services. The transaction is expected to close by the end of July 2005, subject to customary conditions including regulatory approval. The transaction has been approved by Arbortext shareholders. PTC expects the acquisition will be accretive to earnings in fiscal 2006. Arbortext has 250 employees in offices around the world and generated approximately $40 million of revenue during the past 12 months. PTC provides Product Lifecycle Management (PLM) software solutions to more than 35,000 companies worldwide. PTC customers include manufacturing companies in the aerospace and defense, automotive, consumer, electronics and high technology, industrial equipment and medical products industries. http://www.ptc.com

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