Schneider Electric agreed to acquire PTC Inc. in an all-cash deal valuing the Boston-based industrial software maker at $22.6 billion, the companies said Monday.
The offer of $205 per share represents a 42.3% premium to PTC’s last closing price and a 46.1% premium to the previous 30-trading day volume-weighted average share price. The deal implies an enterprise value of $23.7 billion. PTC’s board voted to recommend that shareholders approve the transaction.
Schneider Electric CEO Olivier Blum said in a statement that the acquisition creates “the industry’s most complete Software & AI powerhouse” by connecting data across the lifecycle of products and assets. PTC President and CEO Neil Barua said the deal gives PTC the scale and resources to expand into new markets and geographies.
PTC serves more than 30,000 customers globally with software for industrial product design, engineering, and data management, including computer-aided design, product lifecycle management, and service lifecycle management tools. The company generated revenue of approximately $2.74 billion for the year through September 30, 2025, the company said.
After the deal closes, software and services are expected to account for roughly 24% of Schneider’s total revenue, the company said. Schneider expects $250 million in annual cost savings by the third year after closing and approximately $800 million in revenue synergies.
Schneider said it will fund the roughly $22 billion total cash consideration through a combination of an equity issuance of approximately $5 billion to $6 billion and new debt of approximately $16 billion to $17 billion. Schneider stock fell more than 8% in European morning trading, while PTC stock jumped 35% in U.S. premarket trading.
The PTC deal is the largest in a series of acquisitions Schneider has made this year. In July, Schneider agreed to acquire Cognite, an industrial data and AI software provider, in an all-cash deal valued at $3.1 billion. That transaction remains subject to regulatory approvals. The company also launched an approximately $1.35 billion takeover bid for smart-device maker Shelly Group last month, according to The Wall Street Journal.
PTC stock had dropped about 17% between January 2026 and the Friday preceding the announcement, as worries about AI’s effect on the broader software sector weighed on its valuation, according to the Wall Street Journal. The company had responded by stepping up its share repurchase program.
The boards of both companies unanimously approved the transaction. Closing is expected by the third quarter of 2027, subject to PTC shareholder approval and regulatory clearances.
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