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France’s Schneider Electric to buy PTC for $22.6 billion in its biggest deal ever

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France’s Schneider Electric to buy PTC for $22.6 billion in its biggest deal ever

France’s Schneider Electric to buy PTC for $22.6 billion in its biggest deal ever

Schneider Electric will acquire US software firm PTC for $22.6 billion in its biggest deal ever, as the French engineering giant expands its industrial software and AI business.

France's Schneider Electric struck its biggest deal ever on Monday, agreeing to buy PTC in an all-cash deal ‌valuing the US software company's equity at around $22.6 billion, it said in a statement. The $205-per-share offer implies an enterprise value of $23.7 billion for Boston-based PTC and represents a 42.3% premium to its last closing price. The French engineering company's shares were down 4.7% on Tradegate before the market opened, as investors digested the size of the acquisition alongside concerns that Schneider would be paying a substantial premium for a software business facing AI-driven valuation pressure and uncertain growth prospects.

P. Morgan analysts said in a note to investors. The transaction is the largest-ever acquisition in the history of Schneider, France's third-highest-valued listed company by market capitalisation, according to LSEG data. Schneider said the acquisition would create a scaled industrial software and AI business built around open and interoperable systems, which it expects to generate €250 million in annual run-rate ‌cost savings by the third year after closing, alongside about €800 million in expected revenue synergies. The deal continues Schneider's push into software acquisitions, having agreed to buy Cognite Holding, a privately held provider of AI software and industrial data, in June.



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