Schneider Electric has agreed to acquire US industrial software company PTC in an all cash transaction valued at approximately $22.6 billion, marking the French energy technology group’s largest acquisition to date, as reported by Bloomberg. Schneider will pay $205 per PTC share, representing a 42.3 percent premium to PTC’s last closing price and giving the transaction an enterprise value of about $23.7 billion. The deal, announced on October 5, is expected to close in the third quarter of 2027, subject to regulatory and shareholder approvals. It will surpass Schneider’s $11 billion acquisition of UK based industrial software company AVEVA in 2023.
The acquisition will significantly expand Schneider Electric’s industrial software and artificial intelligence capabilities by adding PTC’s portfolio of tools for product design, engineering, manufacturing and data management. Schneider said the combined business will create a scaled industrial software and AI platform built around open and interoperable systems, with expected annual run rate cost savings of €250 million by the third year after completion and approximately €800 million in revenue synergies. PTC will complement Schneider’s existing AVEVA software business and Cognite, the industrial data and AI company Schneider agreed to acquire for $3.1 billion earlier this year. Chief Executive Olivier Blum described the proposed combination as creating the industry’s “most complete Software & AI powerhouse”.
The transaction underscores Schneider Electric’s broader transformation from a traditional electrical equipment manufacturer into a technology driven energy management and industrial automation company. Strong demand from data centres and AI infrastructure has become an increasingly important growth engine for Schneider, while industrial manufacturers are investing in software that can connect product design, factory operations, data and artificial intelligence across the entire industrial lifecycle. For PTC, the deal provides access to greater scale and resources to expand its software portfolio and reach additional markets. The combination also highlights the accelerating convergence between industrial hardware, software and AI as global manufacturers seek more integrated digital systems to improve productivity, energy efficiency and operational intelligence.
