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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
APRIL 27, 1998
PARAMETRIC TECHNOLOGY CORPORATION
(Exact name of registrant as specified in its charter)
MASSACHUSETTS 0-18059 04-2866152
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
128 TECHNOLOGY DRIVE, WALTHAM, MASSACHUSETTS 02154
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code:
(781) 398-5000
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ITEM 5. OTHER EVENTS.
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On April 27, 1998, Parametric Technology Corporation ("Parametric") and
Control Data Systems, Inc. ("Control Data") entered into an agreement pursuant
to which Parametric will acquire the Integrated Computer-Aided and Manufacturing
Technologies (ICEM) business of Control Data for a payment of up to
approximately $45 million in cash, subject to adjustment, and assumption of
operating liabilities associated with the ICEM business. The principal product
line of the acquired business is the ICEM Surf advanced surfacing and
engineering software tools widely used by body and styling engineers in the
automotive and aerospace industries. Completion of the acquisition is subject
to satisfaction of certain conditions, including any required governmental
approvals or clearances. In connection with the transaction, Parametric expects
to record in the current fiscal quarter, when the transaction is expected to
close, a one-time, non-cash charge against earnings related to the write-off of
in-process research and development.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PARAMETRIC TECHNOLOGY CORPORATION
Date: May 11, 1998 By: /s/ Edwin J. Gillis
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Edwin J. Gillis
Executive Vice President, Chief Financial
Officer and Treasurer
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