PTC Unveils Reality Lab to Advance Adoption of and Exploration of New Applications for Augmented Reality

Former MIT Media Lab Scientists to Oversee New Multi-Reality Lab

NEEDHAM, Mass. — (BUSINESS WIRE) — November 16, 2017PTC (NASDAQ: PTC) today announced the unveiling of Reality Lab, a test center led by researchers who will create applications that leverage augmented, virtual, mixed, and physical realities with the purpose of improving people’s interactions with their physical environments. The lab will apply human-centered design and human-computer interaction to new technology, empowering people with more intuitive and practical computer user interfaces for managing the next generation of networked computer systems.

An early believer in the potential of AR for industrial use cases, PTC acquired the industry’s most advanced and widely adopted Vuforia® AR technology platform for custom development in 2015. Since then, PTC has leveraged Vuforia to expand the capabilities of its market-leading ThingWorx® Industrial Innovation Platform. Building on its proven history in helping customers optimize their product design, manufacturing, and service initiatives, PTC is helping to bring the power of AR technology to these traditional business activities with the ability to visualize, instruct, guide, and improve interactions with physical things.

PTC’s Reality Lab will be overseen by MIT graduates Valentin Heun and Benjamin Reynolds, who will serve as the lab’s chief scientists. While at the MIT Media Lab’s Fluid Interfaces Group, the pair cofounded Reality Editor, an augmented reality platform that allows users to link smart objects by simply drawing a line between them on the screen of a smart phone. “PTC is known worldwide for its technological excellence – and a prowess for pushing the frontiers of technology to make the industrial world more efficient,” said Valentin Heun, vice president of technology, Office of the CTO, PTC. “We’re delighted to become members of the team.”

Reality Lab is located in PTC’s current headquarters in Needham, Mass. and will be a central feature at its new Boston-based headquarters expected to open in 2019.

“AR connects the wealth of digital data generated by the IoT and digital transformation initiatives with the physical world in which we apply it,” said Jim Heppelmann, president and CEO, PTC. “Our new Reality Lab will enable enterprises to advance the way they serve customers, train employees, design and create products, manage their value chains, and how they compete.”

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About PTC (NASDAQ: PTC)
PTC is a global provider of technology that transforms how companies design, manufacture, operate, and service the “things” in the Internet of Things (IoT). With more than $1 billion in revenue and 6,000 employees worldwide, PTC is one of the largest software companies based in Massachusetts. In 1986 PTC revolutionized digital 3D design, and in 1998 were first to market with Internet-based product lifecycle management. Today, PTC enables global manufacturers and an ecosystem of partners and developers to drive innovation related to such promising technologies as the IoT and Augmented Reality.

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