French energy and industrial technology company Schneider Electric has agreed to buy U.S. software maker PTC for about $22.6 billion, marking the largest acquisition in Schneider’s history.
Under the deal announced Monday, Schneider will pay $205 in cash for each PTC share. That represents a premium of about 42% over PTC’s closing price before the deal was announced.
PTC develops software used by manufacturers to design products, manage engineering information and oversee products throughout their life cycles. Schneider says combining those tools with its existing automation, energy-management and industrial software businesses will strengthen its position as companies increasingly use artificial intelligence and digital systems to operate factories and other facilities.
The acquisition is also part of Schneider’s broader push into software and AI-related technology. The company has benefited from rising investment in data centers and electrical infrastructure, but investors reacted cautiously to the size and price of the PTC deal. Schneider shares fell about 9% in European trading Monday.
The transaction is expected to close in the third quarter of 2027, subject to regulatory approvals and other closing conditions. If completed, the acquisition would significantly expand Schneider’s software business while giving it a larger role in the technology manufacturers use to design, build and manage increasingly connected industrial operations.
The Readovia Lens
Schneider is making a $22.6 billion bet that the next phase of industrial growth will be driven by more than electrical equipment. By combining energy, automation and software, the company is positioning itself to capture more of the spending flowing into AI-powered factories, data centers and other increasingly digital infrastructure.
