French energy technology company Schneider Electric has agreed to acquire U.S. industrial software maker PTC for approximately $22.6 billion, in its largest acquisition to date as it expands its software and artificial intelligence capabilities.
Under the agreement announced Monday, PTC shareholders will receive $205 per share in cash, representing a 42.3% premium to PTC’s previous closing price. The transaction values PTC’s enterprise value at about $23.7 billion and remains subject to shareholder and regulatory approvals.
The deal will strengthen Schneider Electric’s position in industrial software by adding PTC’s tools for product design, engineering, product lifecycle management and industrial data. Schneider said the combination will help connect engineering and operational data with AI systems as manufacturers increasingly adopt digital and automated processes.
Schneider expects the acquisition to generate about €250 million in annual cost savings by the third year following completion, along with approximately €800 million in revenue synergies. The company expects the transaction to close by the third quarter of 2027, subject to the required approvals.
The acquisition is part of Schneider’s broader push into software, AI and digital industrial technologies, following its recent expansion into industrial data and AI solutions. The company said the PTC deal will further increase the share of recurring software revenue within its overall business.
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