France’s Schneider Electric announced its biggest-ever deal on Monday, agreeing to acquire PTC in a cash deal valued at approximately $22.6 billion, according to a statement.
The deal continues Schneider’s push into software acquisitions, following its June agreement to buy Cognite Holding, a privately held provider of AI software and industrial data.
Monday’s $205-per-share agreement values Boston-based PTC at approximately $23.7 billion and includes a 42.3% premium over its last closing price.
This deal is the largest acquisition by France’s third-largest company.
In Monday’s statement, Schneider announced that the acquisition would establish a larger industrial software and AI operation centered on open and interoperable systems. They expect this to generate €250 million in annual cost savings by the third year after closing, along with about €800 million in projected revenue synergies.
The deal is expected to close in the third quarter of 2027.
Schneider Electric shares fell 4.7% premarket following the announcement.
By CEO NA Editorial Staff
