The Product Development Company is to acquire Aptavis Technologies Corporation in a move that will solidify its position in product lifecycle management (PLM) for the retail, footwear and apparel industry.

One of PTC's growth strategies is to extend our solutions to vertical industries beyond the core discreet manufacturing verticals traditionally served by PTC," said C Richard Harrison, president and chief executive officer of PTC.

"With this acquisition, we will strengthen our offering for this industry, which is adopting PLM technology rapidly."

"Retail, footwear and apparel companies require a specialised solution to meet the unique requirements of their industry," said Jim Heppelmann, executive vice president and chief product officer of PTC.

"The Windchill-based solution from Aptavis is a natural fit as we make true enterprise PLM a reality for the first time in this industry."

PTC's solution for this market allows customers to manage the process of developing merchandise across a complex global value chain and has already been adopted by leading brands such as Fila, Lands' End, Limited Brands, Liz Claiborne Inc, Lost Arrow, Nike Apparel, Redcats, Reebok, and Sara Lee.

The Aptavis solution, powered by Windchill, has been solely distributed by PTC since 2002.