Innovation Space to Showcase How the Two Companies Will Enable Digital Transformations for Global Customers
NEEDHAM, Mass. & BANGALORE, India — (BUSINESS WIRE) — July 11, 2017 — PTC (NASDAQ: PTC) and L&T Technology Services Limited (NSE: LTTS) today announced the opening of a Center of Excellence (CoE) focused on Industrial Internet of Things (IoT) innovation at LTTS’ office in Bangalore, India. Popularly termed as Industry 4.0, the Industrial IoT Center of Excellence will demonstrate the promise of digital transformations for companies across the globe, and will showcase the technologies that make those transformations possible.
LTTS will equip the CoE with the entire PTC technology stack – from product design software through Industrial IoT functionality. The CoE will support LTTS’ advanced capabilities in the Industrial IoT space and will focus primarily on application lifecycle management (ALM), product lifecycle management (PLM), service lifecycle management (SLM), manufacturing operations management (MOM), and connected manufacturing. Customers visiting the space can experience new-age technology innovations to better inform decisions on initiating new IoT projects or further developing existing ones.
“This Center of Excellence will be a valuable way to show new and existing customers the potential for their digital transformations,” said Amit Chadha, President-Sales & Business Development & Whole-Time Director, L&T Technology Services. “To maximize the potential of the space, we needed proven technology, and PTC was the clear choice with its established solution offerings and robust Industrial IoT platform that complement our unique offerings in Digital PLM.”
PTC was chosen as the technology partner for the CoE because of the vast capabilities of its IoT technology, as well as its longstanding leadership and success with solutions such as computer aided design (CAD) and PLM. The full technology stack from PTC will be available in the CoE, from Creo® CAD software and Windchill® PLM software through the ThingWorx® Industrial IoT platform.
The CoE, which is expected to draw in an audience of global customers, will also feature new Industrial IoT solutions developed on the ThingWorx platform. Some of the prominent demonstrations on display at the CoE include digital twin models, situational awareness to improve plant productivity using PTC’s ThingWorx platform, and Digital PLM services that can improve the productivity of field engineers through dynamic updates of service data.
“We are excited to partner with L&T Technology Services on the Center of Excellence in Bangalore,” said Catherine Kniker, chief revenue officer, Platform Business, PTC. “Combining L&T Technology Services’ knowledge of building and implementing technology solutions with PTC’s leading technology offerings will help customers understand how they can transform their businesses and accelerate their time to value.”
PTC is at the forefront of unlocking the value at the intersection of the physical and digital worlds. With the leading ThingWorx Industrial IoT platform, augmented reality development capabilities, and a portfolio of connected solutions, PTC is enabling companies to improve the way that they design, manufacture, sell, operate, and service their products.
LTTS is a leading engineering services company with a Digital PLM practice that ensures faster time to market and improved product quality for customers in the industrial, automotive, aerospace and defense, medical and healthcare, oil and gas, consumer packaged goods, and energy and utilities markets.
Key differentiators that make LTTS’ Digital PLM portfolio unique in the market ride on its in-depth engineering and PLM domain expertise, along with matured partnerships with leading PLM partners like PTC. CIMdata has recognized L&T Technology Services as one of the leading Digital PLM system integrators in the world.
Both companies are now working to leverage each other’s expertise and provide next-generation digital services, smart and accelerated product development, smart and connected manufacturing, remote field services, and predictive maintenance as aftermarket services.
About L&T Technology Services Limited (NSE:
LTTS)
L&T
Technology Services Limited is a publicly listed subsidiary of Larsen &
Toubro Limited focused on Engineering and R&D Services (ER&D) addressing
global customers including 52 Fortune 500 companies and 48 of the
world’s top ER&D spenders. A leading global pure-play engineering
services company, L&T Technology Services offers consultancy, design,
development and testing services across the product and process
development life cycle for the industrial products, medical devices,
transportation, telecom & hi-tech, and the process industries. Digital
Engineering portfolio of offerings from L&T Technology Services help
build Smart Products & Services and offer Smart Manufacturing services
and solutions to customers. The company also offers services and
solutions in software engineering, embedded systems, mechanical &
manufacturing engineering, value engineering and plant & process
engineering. Headquartered in India, L&T Technology Services Limited has
around 11,000 employees, 12 global delivery centers in India and
overseas, 27 sales offices in India, North America Europe, the Middle
East and Asia and 34 labs in India as of March 31, 2017. For additional
information about L&T Technology Services log on to
www.LntTechservices.com.
About PTC (NASDAQ:
PTC)
PTC has the most robust Internet of
Things technology in the world. In 1986 we revolutionized digital 3D
design, and in 1998 were first to market with Internet-based PLM. Now
our leading IoT and AR platform and field-proven solutions bring
together the physical and digital worlds to reinvent the way you create,
operate, and service products. With PTC, global manufacturers and an
ecosystem of partners and developers can capitalize on the promise of
the IoT today and drive the future of innovation.
PTC, ThingWorx, Creo, Windchill, and the PTC logo are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170711005757/en/
Contact:
PTC
Jack McAvoy, 781-370-6143
Corporate Communications
Email Contact
or
FleishmanHillard
Sara
Steindorf, 314-982-1725
Email Contact