RobotShop Launches Robotics Integration Services

RobotShop Inc. has announced the launch of its comprehensive Robotics Integration Services, set to transform the landscape of industry automation by providing the next level of robotics solutions, servicing, integration and support.

(Photo: Business Wire)

As the #1 source for everything robotics, RobotShop has channeled two decades of expertise into crafting a new program designed specifically to meet the evolving needs of industries worldwide. The Robotics Integration Service will be integrated into the RobotShop marketplace, launched in 2020, offering a single doorway for customers seeking comprehensive robotics solutions. This new initiative is designed to cater to businesses across various sectors, providing robotics solutions, servicing, integration and support that ensure customers incorporate robotics easily and effectively into their businesses and operations.

Coleman Benson, a long-term employee, engineer, and robotics expert, will take the reins of this initiative. He started at RobotShop in 2007 and has touched nearly every technical aspect of the company, from technical support to product discovery and design to managing the R&D projects of the Lynxmotion unit.

Understanding the unique needs of different robotics industries, RobotShop’s Robotics Integration Program offers specialized services ranging from guided product selection support to training, installation and servicing. The program aims to equip businesses with sophisticated, yet user-friendly robotic systems that streamline processes and reduce operational costs.

RobotShop is committed to fostering a collaborative environment where global talent can contribute to the advancement of robotics integration. The program is open to potential partners and contract workers worldwide, encouraging a diverse range of perspectives and expertise.

About RobotShop Inc.

RobotShop, the world’s leading source of robotic technology, has been an established industry leader for over 20 years. With a clear purpose of fostering a world full of robots that positively impact our lives, RobotShop embraces the limitless potential of robotics to inspire innovation, solve complex problems, and create novel opportunities for humanity. Serving as your go-to source for everything robotics, RobotShop offers various robot parts, robots and other products in sectors including education, hobbyists, consumer home use, professional, and industrial.

For more information about RobotShop, visit www.robotshop.com.

Endeavor 3D Integrates Materialise’s CO-AM with HP Tech

LEUVEN, Belgium, May 3, 2024 – Endeavor 3D, a leading contract manufacturer of additive manufacturing, has announced its strategic relationship with Materialise and HP to onboard the Materialise CO-AM Software Platform to bolster its HP 3D printer production capacity. This relationship marks a significant milestone in Endeavor 3D’s commitment to meeting the rising demand of industrial volume production with 3D printing, particularly in highly regulated and demanding industries.

“Endeavor 3D has a strong collaboration with HP, and integrating Materialise CO-AM enables us to offer a better experience for our customers,” said Janet Dickinson, chief operating officer at Endeavor. “CO-AM software is the right tool for us to scale our business and achieve our efficiency initiatives in 2024, which includes a 20% increase in labor productivity and a 30% yield improvement.”

While many manufacturers continue to rely on email, spreadsheets, and whiteboards to run their 3D printing production, Endeavor 3D recognizes these traditional methods are not scalable. In anticipation of the growing demand for 3D-printed applications and the need to future-proof operations, Endeavor 3D has made a crucial decision to digitally transform its processes by implementing the Materialise CO-AM Software Platform to power its fleet of HP Multi-Jet Fusion and Metal Jet 3D Printers. By doing so, Endeavor 3D will streamline its workflow, reduce manual touchpoints, and increase efficiency through automation, maximizing its production output and AM capacity.

The adoption of Materialise CO-AM software with HP 3D printers brings numerous benefits to Endeavor 3D. Incoming requests will be seamlessly stored in CO-AM’s Order Management System, ensuring efficient organization and data storage. Team members will receive automatic notifications about status changes, enabling them to provide quicker responses to customers. When orders are ready for production, files can be seamlessly launched in Materialise Magics software for data and build preparation, then nested via the Magics Nester module. This allows orders to be efficiently batched on build trays while significantly improving Endeavor 3D’s overall production output.

The CO-AM Manufacturing Execution System effectively manages all HP 3D printers on the shop floor, providing real-time sensor data status updates for remote monitoring and quality management. This integrated system also oversees critical processes such as post-processing, finishing, and quality control, ensuring a seamless workflow from production to final delivery.

“We have multiple manufacturing and quality control processes, so this tool also enables us to aggregate them into a more seamless workflow,” Dickinson said. “This update highlights Endeavor 3D’s investment in its quality control systems to ensure the highest quality output on behalf of our customers. Having a software platform that prioritizes qualification makes our overall production more efficient.”

“To scale additive manufacturing, the industry is in need of printers that are designed for high productivity coupled with an integrated end-to-end workflow solution that focuses on lowering the cost of additive parts in production while managing quality. The collaboration between HP and Materialise delivers this solution for Endeavor 3D,” said Arvind Rangarajan, global head of Software and Data, HP Personalization and 3D Printing. He added that a key factor driving industry growth is the willingness of industry players to collaborate and integrate with one another.

“This collaboration with Endeavor 3D and HP empowers us to drive industrial volume production with additive manufacturing,” said Udo Eberlein, VP of software at Materialise. “The openness of the CO-AM Software Platform allows for deep integration with HP technology, which enables Endeavor 3D to optimize its production processes and build a strong foundation to scale as the company acquires more customers and expands its operations.”

Visit HP and Endeavor 3D’s booth S25209 at NPE2024 from June 6 – 10 to learn more about the partnership and see the latest production applications across automotive, consumer, healthcare, and industrial.

About HP

HP Inc. is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services, and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more.

For more information, please visit www.hp.com.

About Endeavor 3D

Endeavor 3D is a leading provider of additive manufacturing solutions and is one of the largest 3D printing contract manufacturing partners in the southeast United States. Endeavor 3D specializes in product design, production, post-processing, and quality control of critical parts and assemblies in the medical device, consumer product, aerospace, and transportation markets. Endeavor 3D combines decades of manufacturing expertise with a cutting-edge 65,000-square-foot facility in Metro Atlanta, GA, to serve as a leading manufacturing partner across sectors. Endeavor 3D is ISO 9001-2015 certified and is an HP Digital Manufacturing Network Partner, certified for best-in-class quality, volume production at scale, and robust quality management.

About Materialise

Materialise incorporates more than three decades of 3D printing experience into a range of software solutions and 3D printing services that empower sustainable 3D printing applications. Their open, secure, and flexible end-to-end solutions enable flexible industrial manufacturing and mass personalization in various industries — including healthcare, automotive, aerospace, eyewear, art and design, wearables, and consumer goods. Headquartered in Belgium and with branches worldwide, Materialise combines the largest group of software developers in the industry with one of the world’s largest and most complete 3D printing facilities.

Oracle, TIM Partner to Accelerate Cloud Adoption in Italy

MILAN, Italy and AUSTIN, TX, May 3, 2024 – Oracle and TIM announced a collaboration to support the increasing demand for cloud services in Italy from public and private sector organizations. As part of the agreement, TIM’s business unit dedicated to businesses and the public sector, TIM Enterprise, will integrate Oracle Cloud Infrastructure (OCI) into its portfolio. In addition, TIM will become the host partner for Oracle’s second planned cloud region in Italy, which will be located in Turin and hosted in TIM Group’s reliable, next-generation datacenter.

Part of Oracle’s distributed cloud strategy, the upcoming Oracle Cloud Turin Region will provide public and private sector organizations access to a wide range of cloud services to migrate all types of workloads from their data centers to OCI, modernize their applications, and innovate with data, analytics, and AI. Oracle is the only hyperscaler capable of delivering AI and a full suite of 100+ cloud services across dedicated, public, and hybrid cloud environments, anywhere in the world. This includes Oracle Autonomous DatabaseMySQL HeatWave Database ServiceOracle Container Engine for KubernetesOracle Cloud VMware SolutionOCI Generative AI service, and AI infrastructure.

With the new cloud region in Turin and the existing Oracle Cloud Milan Region, Oracle will enable customers in Italy to both enhance their business continuity by replicating workloads to distributed locations, while helping address their digital sovereignty and compliance requirements by keeping replicated data in Italy. The upcoming Turin region will be collocated in one of the datacenters in TIM Enterprise’s network of 16 datacenters in Italy, which has been developed to the highest technological, security, and environmental standards, and proven to meet the requirements of public and private sector organizations.

“We are pleased to be working with Italy’s leading telecommunications provider to bring OCI to public and private sector organizations and support their migration to the cloud,” said Richard Smith, executive vice president and general manager, EMEA Cloud Infrastructure, Oracle. “By adding OCI to its robust cloud service offerings, TIM Enterprise will be able to provide a cloud platform used by customers all over the world to run their most mission-critical workloads in the cloud. In addition, with the upcoming second cloud region in Italy, we are reaffirming our commitment to helping Italian organizations of all sizes and industries accelerate the adoption of AI and other innovative technologies.”

“Our collaboration with Oracle is an important milestone for TIM Enterprise and reinforces our commitment to providing innovative, sustainable and secure cloud solutions to public and private sector organizations in Italy,” said Elio Schiavo, chief enterprise & innovative solutions officer, TIM. “Our cloud proposition is enriched by the major global players in the industry and is a strong foundation for our future growth in a highly strategic sector for the country. Oracle’s selection of our datacenter network to support its new cloud region is testament to the absolute excellence of our infrastructure, which is unique in the Italian market in terms of its reach and performance.”

As part of the agreement, TIM Enterprise will offer OCI services to its public and private sector customers across the region, leveraging its long-standing experience in helping customers in any industry migrate their mission-critical workloads to the cloud. With built-in security, superior performance, high availability, and lower cost, these services are designed to support mission-critical and cloud-native workloads in large public and private sector environments.

As part of the collaboration, TIM will also use OCI to migrate some of the Group’s internal applications to the cloud.

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle, please visit www.oracle.com.

About TIM

TIM Group is driving the digital transition of Italy and Brazil with innovative technologies and services because TIM wants to contribute to accelerating the sustainable growth of the economy and society by bringing value and prosperity to people, companies and institutions.

TIM Group offers diversified solutions that meet the needs of its stakeholders while also integrating climate strategy, circular economy and digital growth targets.

TIM offers fixed and mobile telephony services and products for communication and entertainment for individuals and households, and supports small and medium-sized enterprises in their path towards digitalization with a portfolio tailored to their needs.

Cloud, IoT and Cybersecurity technologies are at the heart of TIM Enterprise’s End-to-End solutions for companies and the public institutions that support the country’s digital transformation by making use of the largest data center network in Italy, the expertise of Group companies such as Noovle, Olivetti and Telsy, and partnerships with leading industrial groups.

TIM Group develops 4G and 5G mobile network and fibre network infrastructure, that makes available to the entire market, both through a widespread national presence and intentionally through Sparkle.

In Brazil, TIM Brasil is a major player in the South American communications market and a leader in 4G and 5G coverage.

TIM Group also supports projects of high social interest via TIM Foundation in Italy and Instituto TIM in Brazil.

AVL Opens Office in Ontario, Canada

ONTARIO, Canada, May 3, 2024 – AVL, the global mobility technology company for development, simulation, and testing, has established a new entity to serve Canada’s emerging battery technology and vehicle electrification sectors.

AVL TSI Canada, Inc. will operate a new branch office in Mississauga, Ontario. This development signifies a meaningful move in further establishing Canada as an epicenter for battery technology and electric vehicle (EV) research and development.

AVL will provide state-of-the-art testing equipment and software to large OEMs, universities, and research facilities in Canada to advance battery technology and EV research and development. The portfolio includes systems that provide customers with advanced capabilities for testing all aspects of vehicle electrification, including batteries, inverters, traction motors, and e-axles.

Corey Miller, business director of AVL TSI Canada, Inc.: “AVL’s investment in the Canadian market helps move the industry towards its goal of creating smart, clean, and affordable transportation. These dedicated resources allow us to provide superior service and support as well as enhance responsiveness to suppliers, startups, and OEMs alike.”

Furthermore, AVL is helping strengthen the pipeline of Canadian talent by investing in North America’s premier automotive engineering university competition programs EcoCAR EV Challenge and The Battery Workforce Challenge. AVL provides participants with simulation tools, testing-, and engineering support for the development of low-emission and electric vehicles. Hands-on experience with industry-leading tools equips students to excel in the EV industry and helps retain local talent.

About AVL

With more than 12,200 employees, AVL is one of the world’s leading mobility technology companies for development, simulation, and testing in the automotive industry and in other sectors such as rail, marine, and energy. Based on extensive in-house research activities, AVL delivers concepts, technology solutions, methodologies, and development tools for a greener, safer, and better world of mobility and beyond.

AVL supports international partners and customers in their sustainable and digital transformation. The focus lies on the areas of electrification, software, AI and automation. In addition, AVL supports companies in energy-intensive sectors on their way to a greener and more efficient energy generation and supply.

Innovation is AVL’s passion. Together with an international network of experts at more than 90 locations and 45 Tech and Engineering Centers worldwide, AVL is driving the future of mobility. In 2023, the company generated a turnover of 2.05 billion Euros, of which 10 % are invested in R&D activities.

For more information, visit www.avl.com.

Bentley Motors Selects VI-grade’s COMPACT FSS Simulator

DARMSTADT, Germany, May 3, 2024 – VI-grade, the global provider of human-centric simulation-driven vehicle development solutions, today announced that Bentley Motors Ltd., the epitome of luxury and performance in the automotive world, has chosen VI-grade’s state-of-the-art COMPACT FSS Simulator technology to enhance their digital development capabilities.

Bentley Motors Ltd. Elevates Digital Development with VI-grade’s COMPACT FSS Simulator

Bentley engineers strategically chose the COMPACT FSS for its unique Multi-Attribute Simulation technology, enabling a comprehensive assessment of their vehicles in Motion, Vibration, and Sound. The decision was reinforced by Bentley’s trust in VI-grade, the proven performance of their solutions, the impressive results obtained at VI-grade SimCenter during the evaluation phase of the simulator, as well as the holistic approach offered by it.

In detail, the COMPACT FSS Simulator will play a pivotal role in building virtual prototypes of Bentley’s future BEV models. Key applications include Vehicle NVH development, Ride and Handling tuning, thorough evaluation of primary and secondary ride comfort, and contribution to the overall sound experience for interior noise assessment through multi-attribute simulation.

Charlie Smith, virtual vehicle engineer at Bentley Motors, emphasized, “The COMPACT FSS is viewed as a strategic step towards accelerating our development cycle, minimizing reliance on physical prototypes, and enhancing simulation capabilities. This cutting-edge technology will prominently feature in Bentley’s new Driver-in-the-Loop (DiL) Hub soon to be completed in  Crewe, UK.” 

Alessio Lombardi, VI-grade EMEA and Americas sales director, commented, “This success reaffirms VI-grade’s commitment to providing advanced solutions and fortifying our partnership with Bentley Motors Ltd. We are excited to contribute to Bentley’s journey of digital development, driving excellence in the automotive industry.”

Charlie Smith will also be giving a keynote presentation at VI-grade’s ZERO PROTOTYPES Summit, to be held May 14-16 at SimCenter Udine. The presentation will focus on the importance of a “virtual first” mindset in engineering for the next generation of Bentley vehicles. For the full conference agenda and more information about the event, please follow this link.

About the COMPACT FSS Simulator

Automakers and automotive design and development engineers face the challenge of making million-dollar design decisions without the benefit of physical prototypes. Those prototypes provide confidence, but they are too expensive and too slow to keep up with the pace of modern design and development.

The COMPACT Full Spectrum Dynamic Simulator (FSS) provide engineers and decision-makers with the confidence that their decisions on design and content are correct, especially for subjective attributes like ride comfort, sound, vibration and the use and interaction with other features.

The COMPACT FSS simulator provides highly accurate motion, vibration, and sound in a small footprint. It enables Human-in-the-Loop simulation, which is the vital connection between objective simulation data and subjective human perception. It provides a full-spectrum simulation from 0.5Hz to 20kHz, making it ideal for ride comfort, overall vehicle refinement characterization, and any evaluation that requires experiencing multiple vehicle attributes.

The COMPACT FSS simulator is powered by a VI-grade AutoHawk real-time computer, which runs real-time vehicle dynamics models and generates motion, vibration, and sound. Additional sound and vibration content is provided by VI-NVHSim software components.

The COMPACT FSS is especially well-suited for Ride & Comfort evaluations, where motion, vibration, and sound combine to create the total driver and passenger experience. It is also suitable for seat evaluations, as virtually any seat can be placed on the COMPACT FSS, with motion and vibration delivered to the seat rail attachment locations.

About VI-grade

VI-grade is the global provider of disruptive vehicle development solutions that are paving the way to developing vehicles with Zero Prototypes.

Its human-centric solutions comprise industry-leading real-time simulation software, professional driving simulators and Hardware-in-the-Loop solutions that accelerate product development across the transportation industry.

The company’s suite of scalable driving simulators covers a wide performance range to assess the multi-disciplinary driving experience. These proven solutions enable OEMs, suppliers, research centers, motorsport teams and universities to reduce physical prototypes while accelerating innovation in their quest to get ever nearer to achieving the ultimate development goal of Zero Prototypes.

VI-grade is part of HBK’s Virtual Test Division, which focuses on providing real-time software, simulator, and hardware-in-the-loop solutions to virtually test products throughout the development cycle, helping companies accelerate innovation and reduce time-to-market, and improve their competitive advantage.

For further information, please visit www.vi-grade.com.

AVL Partners with Red Bull Advanced Technologies

GRAZ, Austria and MILTON KEYNES, UK, May 2, 2024 – Mobility technology company AVL is partnering with Red Bull Advanced Technologies, the high-performance arm of Red Bull Racing Group, to develop the next generation of ultra-high-power density fuel cell technology. This collaboration combines AVL’s industry leading portfolio of PEM fuel cell technology and Red Bull’s winning technologies and novel methodologies in lightweight design, construction, and aerodynamics. This project is expected to deliver a fuel cell system for high performance application that exceeds those currently available globally. Joint investigations indicate that upon successful completion, dramatic improvements in gravimetric power density can be achieved with values towards 6kW/kg on stack level and 2kW/kg on fuel cell system level. This technology has the potential to result in the world’s highest gravimetric power density PEM fuel cell system.

The solutions to be achieved will be a significant milestone in net-zero carbon technology innovation, enabling sectors such as aerospace, future motorsport series, and a multitude of other maximum payload applications to have the power density figures required in hydrogen mobility.

Rob Gray, technical director, Red Bull Advanced Technologies: “We are delighted to be working with AVL on this collaboration to increase fuel cell power density and thus improve performance. It goes to show how beneficial the application of cutting edge F1 inspired engineering can be with solving real-world problems.”

Jürgen Rechberger, vice president, AVL: “We are very proud to be working closely with Red Bull. This partnership will combine the knowledge and experience of our experts, allowing us to improve the gravimetric power density of our fuel cell technology by a factor of three and hence meet the requirements of high-performance applications like aviation and racing.”

About AVL

With more than 12,200 employees, AVL is one of the world’s leading mobility technology companies for development, simulation, and testing in the automotive industry and in other sectors such as rail, marine, and energy. Based on extensive in-house research activities, AVL delivers concepts, technology solutions, methodologies, and development tools for a greener, safer, and better world of mobility and beyond.

AVL supports international partners and customers in their sustainable and digital transformation. The focus lies on the areas of electrification, software, AI and automation. In addition, AVL supports companies in energy-intensive sectors on their way to a greener and more efficient energy generation and supply.

Innovation is AVL’s passion. Together with an international network of experts at more than 90 locations and 45 Tech and Engineering Centers worldwide, AVL is driving the future of mobility. In 2023, the company generated a turnover of 2.05 billion Euros, of which 10 % are invested in R&D activities.

For more information, visit www.avl.com.

About Red Bull Advanced Technologies

Red Bull Advanced Technologies was formed in 2014 with the remit to apply aspects of F1 technology to other challenges, both in motorsport and the wider world. With an aim to position Red Bull Advanced Technologies as the leading competitor in technology solutions, they bring exceptional engineering, design, technology, simulation and production capabilities to a hugely diverse set of industries, helping to create a smarter, better future. From human powered machines to hypercars and everything in between including submersibles, flying machines and future mobility solutions, with Red Bull Advanced Technologies, the possibilities are limitless.

Altair Acquires Research in Flight

TROY, MI, May 2, 2024 – Altair a global leader in computational intelligence, announced it has acquired Research in Flight, maker of FlightStream, which provides computational fluid dynamics (CFD) software with a large footprint in the aerospace and defense sector and a growing presence in marine, energy, turbomachinery, and automotive applications.

FlightStream is a user-friendly, yet powerful flow solver that bridges the gap between high-fidelity CFD simulations and the needs of engineers and designers. Its exceptionally fast computational speeds and low hardware footprint, coupled with a streamlined user interface and robust aerodynamic solver, make it an invaluable tool for early-stage rapid design iterations and in-depth aerodynamic studies for aerospace and defense applications and beyond. FlightStream can capture subsonic to supersonic flows, including compressible effects and a unique surface vorticity capability. It leverages the strengths of panel method flow solvers and enhances them with modern computational techniques to provide a fast solver capable of handling complex aerodynamic phenomena.

“Our growth in the aerospace, defense, and surrounding industries has accelerated in recent years through our best-in-class computational intelligence solutions,” said James R. Scapa, founder and chief executive officer, Altair. “The integration of FlightStream into our portfolio will enhance our offering with its specialized, modern, and efficient approach to meet the increasingly complex customer demands in these industries, including the urban air mobility and eVTOL sectors.”

FlightStream allows for the rapid analysis of unconventional aircraft using a unique surface vorticity, flow-separation, and viscous analysis capability for both powered and unpowered configurations. It is augmented with integral boundary layer modeling, enabling users to capture viscous effects with a level of detail that is uncommon in traditional panel method applications. This integration facilitates a more comprehensive analysis of aerodynamic performance, providing insights that are crucial for design optimization.

“We are proud to be a standard tool in the aircraft designer’s toolbox,” said Vivek Ahuja, co-founder, Research in Flight. “Joining Altair will allow us to scale and reach countless engineers seeking best-in-class, powerful, and specialized tools for faster design iterations.”

In addition to Ahuja, Research in Flight was co-founded by Roy Hartfield who has dedicated more than 30 years to the study of aerodynamics, propulsion, statistical analysis of air vehicles, and aircraft research. Hartfield is an aerospace engineering professor at the Samuel Ginn College of Engineering at Auburn University.

FlightStream is a United States Air Force network-approved software and is also used at NASA Ames and Langley Research Centers, as well as by the US Army. It will be integrated into the Altair HyperWorks design and simulation platform and be available via Altair Units.

About Altair

Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future.

To learn more, please visit www.altair.com.

Tech Soft 3D Acquires Actify SpinFire Business

BEND, OR, May 2, 2024 – Tech Soft 3D, the leading provider of engineering software development toolkits, announces that it has acquired the Actify core business including SpinFire, CAD Publisher and Centro from Actify, Inc., a leading force in advanced CAD viewing and collaboration technology. This strategic move underscores Tech Soft 3D’s commitment to accelerate growth, as it establishes an End-User Solutions division and broadens its product portfolio through further acquisitions.

Industrial designer has conversation with senior engineer while working in CAD program, designing new component. He works on personal computer with two monitors.

Actify SpinFire is a powerful CAD viewer and collaboration tool supporting more than 20 standard CAD formats for 3D and 2D viewing, measuring, and markup capabilities for companywide departments including project managers, development, engineers, procurement, sales, supply chain and quality assurance teams.

Ron Fritz, CEO of Tech Soft 3D, commented on the acquisition, stating, “Actify has been a long-term user of our HOOPS technology, and we share the common objective of unlocking the true value of 3D CAD files for manufacturing enterprises and their supply chains. SpinFire has established a strong market position, and we are enthusiastic about leveraging our extensive expertise to enhance collaboration across engineering teams, particularly in handling feedback and client change requests.”

While Tech Soft 3D remains dedicated to providing core intellectual property to developers, the SpinFire team will continue its commitment to delivering future products and providing top-tier support to customers and the global reseller network.

Dave Opsahl, CEO of Actify Inc., expressed confidence in the collaboration, stating, “Over the years, Actify has harnessed the power of core component technologies from Tech Soft 3D. They are engineering innovators, and our teams are well acquainted with each other’s code base and working practices. I am confident about what we can achieve together.”

This acquisition marks a significant step for Tech Soft 3D, reinforcing its position as a leader in engineering software development and enhanced solutions in the CAD viewing, CAD data translation, and collaboration space.

Details of the acquisition are not disclosed. Tech Soft 3D is backed by global, technology-focused investment firm Battery Ventures.

About Tech Soft 3D 

Tech Soft 3D is the leading provider of engineering software development toolkits. Established in 1996 and headquartered in Bend, OR, Tech Soft 3D also has offices in California, France, England, Japan and Norway. The company’s toolkit products power more than 700 unique applications running on hundreds of millions of computers worldwide. Tech Soft 3D is backed by investment firm Battery Ventures.

For more information, visit www.techsoft3d.com.

About Actify

For 15+ years, Actify has been helping manufacturers to visualize and interact with design and engineering information. Actify serves a global base of more than 2,000 companies of whom approximately 85% are suppliers to the auto industry. Actify is headquartered in Detroit, Michigan with sales and support in 45 countries through its offices in the United States, United Kingdom, Germany, and a global network of partners.

For more information, please visit www.actify.com.

FARO Q1 Revenue Down 15% to $84M with $7M Loss

LAKE MARY, FL, May 2, 2024 – FARO has announced its financial results for the first quarter ended March 31, 2024. Revenue for the first quarter of 2024 was $84.2M, 14.8% down compared to $98.8M for the fourth quarter ended December 31, 2023. Net loss was $7.3M.

Comparative analysis based on FARO’s financial results in the last 12 quarters (Result source FARO website)

Comparative analysis based on FARO’s financial results in the last 12 quarters (Result source FARO website)

“We’re pleased with our strong start to the year, with our first quarter financial performance providing a solid foundation from which we expect to continue to invest in our strategic initiatives within our core markets,” said Peter Lau, president & chief executive officer. “GAAP loss per share of $(0.38) and non-GAAP EPS of $0.09 exceeded the high end of our guidance range. GAAP net loss of $7.3 million and Adjusted EBITDA of $5.6 million, or 6.6% of revenue, demonstrates the progress we continue to make towards our aspirational financial goals. In addition, we again expanded our cash position by generating $6.6 million of operating cash flow in the quarter, driven by profitability and efficiencies in working capital.”

A complete chart of the financial results is available here.

About FARO

For 40 years, FARO has provided industry-leading technology solutions that enable customers to measure their world, and then use that data to make smarter decisions faster. FARO continues to be a pioneer in bridging the digital and physical worlds through data-driven reliable accuracy, precision, and immediacy.

For more information, visit www.faro.com.

PTC Q2 Revenue Up 19% to $603M with $114M Profit

BOSTON, MA, May 2, 2024 – PTC reported financial results for its second fiscal quarter ended March 31, 2024. This quarter’s revenue stood at $603.07M, up 19.2% compared to $506.6M of first fiscal quarter of 2024, with a profit of $114.4M.

Comparative analysis based on PTC’s financial results in the last 12 quarters (Result source PTC website)

Comparative analysis based on PTC’s financial results in the last 12 quarters (Result source PTC website)

“Our ARR and free cash flow results in Q2’24 were solid in a challenging selling environment, driven by the resilience of our subscription business model, consistent execution, operational discipline, and the actions we have taken over time to align our investments with market opportunities. We continue to rapidly de-lever, and our debt to EBITDA ratio was 2.3x at the end of Q2’24,” said Kristian Talvitie, CFO.

“Reflecting our year-to-date performance and our outlook for the second half, we are narrowing the range of our FY’24 constant currency ARR guidance and maintaining our FY’24 free cash flow guidance. For Q3, the ARR guidance range is 11 to 12 percent growth, with free cash flow of approximately $220 million. It’s worth noting that we are updating our FY’24 revenue and EPS guidance consistent with our updated ARR guidance range and also due to the impact of FX. We believe we have set our Q3’24 and FY’24 guidance appropriately,” concluded Talvitie.

A complete chart of the financial results is available here.

About PTC

PTC is a global software company that enables industrial and manufacturing companies to digitally transform how they engineer, manufacture, and service the physical products that the world relies on. Headquartered in Boston, MA, PTC employs over 7,000 people and supports more than 25,000 customers globally.

For more information, please visit www.ptc.com.