PTC and Schaeffler Expand Strategic Relationship with Adoption of Windchill+ PLM

Core Insights - Schaeffler is adopting PTC's Windchill+ PLM solution to modernize its product development practices and accelerate time to market [1][8] - The transition from on-premises Windchill to cloud-based Windchill+ is part of Schaeffler's broader cloud-driven transformation effort [1][8] - PTC and Schaeffler plan to collaborate on AI-driven product development initiatives to further enhance product development processes [3][8] Company Relationship - The adoption of Windchill+ marks the next step in the strategic relationship between PTC and Schaeffler, which has lasted over a decade [2] - Schaeffler has utilized PTC's software to develop advanced automotive offerings, including engine, transmission, and chassis systems [2] - The relationship is expected to expand following the merger of Schaeffler and Vitesco Technologies in October 2024 [2] Digital Transformation - Schaeffler emphasizes the importance of digital transformation to deliver best-in-class products for global customers [4] - Accelerating product development and embracing a cloud-first strategy are top priorities for Schaeffler [4] - The collaboration with PTC is crucial for Schaeffler's shift to Windchill+ and advancing its product portfolio [4]