The History of Creo Creo is simply the latest version of Pro/E. For the first 10 years, PTC generally released 2 versions per year, with some exceptions. The name changed to Creo 1.0 after Pro/Engineer Wildfire 5.0 (rebranded PTC Creo Elements/Pro), took place on October 28, 2010, which coincided with PTC’s announcement of Creo, a new design software application suite. (NYSE: PIR), a retailer of home furnishings, down one spot and off the bottom of the S&P MidCap 400 IndexIn 2008, PTC once again achieved revenues of over $1 billion something it had not been able to accomplish since 1999. Parametric then bumped Pier 1 Imports Inc. On DecemStandard & Poor’s bumped PTC off its S&P 500 Index, and replaced it instead with the newly spun-off natural gas company Spectra Energy Corp. It took a new CAD product (Pro/ENGINEER Wildfire) and an expanded product line, but PTC has been able to transform itself over the past 10 years into the third largest provider of Product Lifecycle Management software. PTC’s sales began a multi-year decline from which it took years to recover. These competitors, symbolized by Solidworks, squeezed PTC from the bottom, while more established companies like Unigraphics and IBM held the ‘high ground’ in automotive and aerospace industries. Its strong ascent continued unabated until the mid-1990s, when the introduction of Microsoft Windows NT, and the availability of commercial geometric modeling libraries opened the door to a new generation of low-cost competitors and PTC’s reputation for overly aggressive sales tactics alienated many of its customers. Through a combination of innovative technology, and no-holds-barred sales tactics, PTC quickly became a major force in the CAD industry. Pro/ENGINEER was the first commercially successful parametric feature based solid modeler. Once an initial version of Pro/ENGINEER was developed, the company received venture capital funding from Charles River Associates and Steve Walske became the CEO. Pro/E), the company’s first product, shipped in 1988. PTC was founded in 1985, by Samuel Peisakhovich Geisberg, who previously worked at Prime Computer, Computervision (CV) and Applicon.
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