A stark reality check
Earlier this month, the Financial Times reported that PTC had hired Goldman Sachs to explore selling the 23-year-old company, seeking a price of more than $2 billion. The company isn't commenting, but some see the potential sale as the end of the road for a company that helped develop the market for what is called MCAD, or mechanical computer-aided design software.
"They have no future," said Mike Payne, an engineer and executive who was PTC's third employee.
Since leaving PTC more than a decade ago, Payne has focused on starting companies that have sought to democratize MCAD software, making it less complicated and less expensive.