Schneider Electric to buy US software maker PTC for $22.6bn in cash
Schneider Electric has agreed to buy PTC, a US maker of industrial design and engineering software, for about $22.6bn (€20.1bn) in cash. The French group announced the deal on Monday morning.
The announcement came a day after the Financial Times first reported that the two companies were close to an agreement, at a price of about $20bn.
Under the final terms, Schneider will pay $205 for each PTC share. That is a 42.3% premium to PTC’s Friday closing price of $144.03, the company said. Including debt, the deal values PTC at about $23.7bn.
It is Schneider’s largest acquisition to date, Bloomberg reported. Its previous biggest software deal was the buyout of UK industrial software company Aveva, completed in 2023, which valued Aveva at about £9.5bn.
PTC, based in Boston, makes software that manufacturers use to design, build and service their products. It has more than 30,000 customers worldwide.
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