Schneider Electric Makes Its Largest Acquisition Yet With PTC Deal

Schneider Electric has agreed to acquire PTC, the Boston-based developer of industrial design and engineering software, for about $22.6bn (€20.1bn) in cash. The French group will pay $205 per share, counting debt, the transaction values PTC at about $23.7bn.

PTC’s tools support manufacturers across product design, production and servicing, and it serves more than 30,000 customers worldwide. The deal is likely to be completed by the third quarter of 2027, pending regulatory and shareholder approval.

This is Schneider’s biggest acquisition so far, ahead of its 2023 buyout of UK industrial software firm Aveva, valued at about £9.5bn. In June, the group agreed to buy industrial AI company Cognite for $3.1bn and merge it into Aveva; that deal is yet to close. Last month it also offered €1.2bn for Bulgarian smart-home device maker Shelly Group.