Schneider Electric Announces $22.6 Billion PTC Acquisition

Schneider Electric announced a planned $22.6 billion acquisition of U.S. industrial software company PTC, pairing product design software with energy management technology as it seeks to strengthen its position in AI data centers.

The cash offer is $205 per share, a 42% premium, with an estimated enterprise value of about $23.7 billion. If completed, the transaction would be Schneider Electric’s largest acquisition.

Boston-based PTC makes product design and product lifecycle management software that helps manufacturers organize engineering data. Schneider Electric supplies data center infrastructure, including power distribution equipment, cooling systems and server racks.

Blum, Schneider Electric’s group leader, said access to engineering and design information would strengthen the company’s ability to apply AI to industrial processes. He said data is central to creating value from smart systems.

Schneider Electric acquired industrial data and AI services provider Cognite for $3.1 billion in June and has announced a $1.4 billion acquisition of Bulgarian smart-home device maker Shelly Group. The company also provides energy and technology services to chipmakers including Nvidia.

After the deal announcement, Schneider Electric shares fell as much as 10% in early trading in Paris. PTC shares rose more than 34% after U.S. markets opened. The acquisition remains planned.