AVEVA sees strength in plant, decline in shipbuilding
AVEVA Group provided an update on market conditions from April 1 through June 30 ahead of its shareholder meeting today. The brief note said that the company saw an expected decline in new license sales in the marine sector even though shipyards’ order books for new...
MSC to be acquired by Symphony Tech Group and Elliott Assoc
As we’ve been wondering for a while: MSC today announced that Symphony Technology Group would be paying shareholders approximately $360 million in cash for the company, a 13% premium to yesterday’s closing share price of $6.75, with financing provided in part by...
MSC CEO staying on – at least for now
According to yesterday’s filing with the SEC, MSC Software interim CEO Ashfaq Munshi is continuing on beyond the June 30 deadline originally imposed by the company’s Board of Directors—and will be paid a $500,000 bonus when a permanent CEO is appointed. The filing...
Avatech sells BIMreview, lays off another 41
In an unfortunate sign of the times, Avatech Solutions has reduced its workforce by 41 more people, according to a filing with the Securities and Exchange Commission. These latest layoffs follow an earlier reduction layoff of about 20 people in April, now leaving the...
Rumor-mongering: no news on MSC
Yesterday was July 1, the date on which Elliot Associates’ “standstill” agreement with MSC Software expired. Under the February agreement, Elliott Associates could not buy the additional shares that would give it a 20% stake in MSC, enough to affect management...
New link for RSS feed
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schnitgercorp.com changes
As you’ve no doubt noticed, the schnitgercorp website has undergone a major renovation. We did this to make the site easier to read and navigate. Of course, the web design tool selected for its built-in search feature appears to have a bug in its search server links,...
PTC tries to sell investors on growth strategy
PTC gave a comprehensive presentation of its financial status, goals and milestones at its user conference earlier this month. The headlines from the event focused on the announcement that revenue would come in at the low end of the company's guidance for the June...
Busy busy — quick updates
Too busy to craft anything long or thoughtful -- I know I owe you a more detailed analysis of PTC's investor presentation -- but in the meantime:- are companies getting too big? I've been talking to people responsible for coordinating PLM implementations in globally-...
Siemens PLM and IBM partner to integrate Teamcenter, middleware
Siemens PLM and IBM yesterday told analysts and media that they have been working together over the last 18 months to closely integrate IBM's Websphere, DB2 and Rational into Teamcenter 8 to speed implementation and improve performance, security and ease of use. In a...
PTC sees tough June quarter but also signs of improvement
PTC last week told investors that it is seeing "some softness in services and a 'hangover' inmaintenance" -- but also a sequential improvement in license revenue in its fiscal thirdquarter. In total, the company expect to report Q3 revenue at the low end of...
ESI reports currency helped license growth in April quarter
ESI reports currency helped license growth in April quarter
ESI Group reported preliminary results for the quarter ended April 30 that included surprising news: license revenue was up 3% as reported, helped by favorable exchange rates. Update:On a constant currency organic basis, license revenue dropped 6.3% in the period.The...
Autodesk ups the ante on displaced worker programs
Autodesk announced today that the 4,700 participants in its "Autodesk Assistance Program" have downloaded more than 5,400 products since the program was announced 6 weeks ago. Due to this success, the company is increasing the number of available products in...
Catching Up: Bentley, Intergraph, PTC, Siemens and COFES
I may be quite busy and on travel, but the engineering software world rolls on. A couple of interesting tidbits:- According to Greg Bentley, CEO of Bentley Systems, engineering software provides significant return on investment by improving standards of living through...
AVEVA shares surge on profit
AVEVA Group plc on Tuesday reported significantly higher profits for fiscal 2009 (ended March 31) as growth across most regions and product areas helped the company to a 29% increase in revenue over last year. Both revenue and profit were slightly better than...
Autodesk slightly exceeds (depressing) expectations
All day the news dribbled in: Credit Suisse cuts its estimate for Autodesk's 2010 revenue to$1.684 billion from $1.713 Billion; Bank of America/Merrill Lynch thought that the "focuscould shift from [operating expenditure] cuts to revenue growth" and that its...
Rackable changes name to SGI
Remember how I lamented the loss of a brand as venerable as SGI's? Well, it turns out thatRackable felt the same way, changing its name and ticker symbol to SGI yesterday. In apress release, CEO Mark Barrenechea said that “[l]everaging a unified SGI brand will...
New search engine answers "why did the chicken cross the road?"
The new Wolfram Alpha search engine launched over the weekend. It's a cross between thesmart-aleck who can solve everything and an encyclopedia. Type in "Boston MA" and youget population data, a map, weather info and more. Type in math formulas and it...
Business still tough for VARs
Not surprisingly, VARs are not yet seeing any end to the economic turmoil described by thepublic PLM companies in the last few weeks. Avatech Solutions (one of the few publicresellers in the engineering software space) reported a significant revenue decline for...
