Market Overview

PTC Launches Cybersecurity Initiative to Collaborate with Customers, Partners, and Researchers for More Secure and Resilient IoT Deployments

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New Program to Address Product Vulnerabilities as Component of PTC's
Shared Responsibility Model

Continuing its commitment to promoting shared responsibility for safe
and secure IoT deployments, PTC
(NASDAQ:PTC) today has unveiled a Coordinated
Vulnerability Disclosure (CVD) Program
. The new program is designed
to support the reporting and remediation of security vulnerabilities
that could potentially affect the environments in which PTC products
operate, including industrial and safety-critical industries.

The CVD Program is an essential component of PTC's Shared
Responsibility Model
, which defines a
framework for cybersecurity collaboration with customers, partners, and
others within the industry. PTC's CEO Jim Heppelmann highlighted this
thought-leadership during his keynote presentation at the recent LiveWorx
industry event
, inviting partners and customers to work together
with PTC to improve security by taking responsibility – and embracing
speed – for the security responsibilities under their control.

As an extension to its Shared Responsibility Model, PTC's CVD
Program
seeks contributions from external researchers who detect
vulnerabilities in PTC's ThingWorx-branded products. PTC invites both
private individuals and organizations to report security vulnerabilities
following a well-defined process, which aligns with the National
Telecommunications and Information Administration (NTIA) Safety Working
Group's template. This program ensures that researchers can count on PTC
to cooperate to protect its customers and the safety/privacy of the
public.

The IoT market is at a tipping point, with IoT spending expected to
reach $1.2 trillion in 2022, according to a recent
IDC guide
. "As organizations continue to invest in IoT, it is
equally important that efforts are made across the entire IoT ecosystem
to secure these end points and environments," said Stacy Crook, research
director, IoT, IDC.

"Sophisticated software and hyper-connectivity are fueling innovation at
an unprecedented pace," said Joshua Corman, SVP and chief security
officer, PTC. "Those conditions can potentially introduce new classes of
accidents and adversaries. In this new world order, cyber safety and
security must become everyone's responsibility, and we must work
together to address such threats. PTC's CVD Program is one significant
step toward such collaboration, inviting private individuals and
organizations to identify and communicate security vulnerabilities in a
way that we can quickly assess, mitigate, and take corrective action to
help further secure our products and customer implementations."

More information, including reporting guidelines, can be found online
here: https://www.ptc.com/en/documents/security/coordinated-vulnerability-disclosure.

Additional Resources

About PTC (NASDAQ:PTC)
PTC helps companies around the world
reinvent the way they design, manufacture, operate, and service products
in and for a smart, connected world. In 1986 we revolutionized digital
3D design, and in 1998 were first to market with Internet-based product
lifecycle management. Today, our leading industrial innovation platform
and field-proven solutions enable you to unlock value at the convergence
of the physical and digital worlds. With PTC, manufacturers and an
ecosystem of partners and developers can capitalize on the promise of
the Internet of Things and augmented reality technology today and drive
the future of innovation.

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