Schneider Electric agrees to buy US software firm PTC for $22.6 billion
In short
Schneider Electric said it has agreed to acquire Boston-based software company PTC in an all-cash deal at $205 per share, valuing PTC's equity at about $22.6 billion, a premium of more than 40% to its previous close. The French group said the roughly €22 billion consideration is backed by bridge facilities from Morgan Stanley and Societe Generale, and that the transaction is expected to close in the third quarter of 2027. Earlier the same day, before the announcement, CLS and cnBeta reported a deal of about $20 billion that could be announced on Monday, with talks still ongoing.
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Schneider Electric said it has agreed to acquire US software company PTC in an all-cash deal at $205 per share, valuing PTC's equity at about $22.6 billion, according to IT Home, Jiemian and 36Kr. Schneider said the price represents a premium of more than 40% over PTC's previous trading-day close, and that the transaction is expected to be completed in the third quarter of 2027. [ 3 , 4 , 5 ]
IT Home reported that Schneider put the total cash consideration at roughly €22 billion and said it is backed by bridge loan facilities from Morgan Stanley and Societe Generale. Jiemian reported separately that the deal will be funded through a combination of equity financing and new debt. Morgan Stanley is acting as Schneider's lead financial adviser, with Evercore advising PTC, according to IT Home. [ 3 , 4 ]
Earlier in the day, before the agreement was announced, CLS and cnBeta reported that Schneider was close to a deal worth about $20 billion that could be announced as early as Monday. cnBeta said negotiations were still under way and it was not certain a deal would ultimately be reached. The same report put PTC's market value at $15.5 billion, noted its shares had fallen 15.3% in 2026, and said Schneider's shares had risen 28% this year to a market value of €175 billion, making it France's third-largest listed company. [ 1 , 2 ]
cnBeta reported that PTC was founded in Boston in 1985 and is expected to generate revenue of up to $2.75 billion in 2026. Its software products, including the design tool Creo, would complement the capabilities Schneider gained through its acquisition of Aveva, IT Home and cnBeta reported; IT Home said the purchase would expand Schneider's industrial software and AI-enabled business. The deal would be far larger than Schneider's $11 billion purchase of UK-listed Aveva in 2023, cnBeta said. [ 2 , 3 ]
Schneider has been expanding through acquisitions. cnBeta reported the company agreed in June to buy industrial data and AI provider Cognite for $3.1 billion, and last month announced the purchase of Bulgarian smart-home device maker Shelly Group — for $1.4 billion according to cnBeta and €1.2 billion according to IT Home. IT Home cited chief executive Olivier Blum telling Bloomberg Television on 30 July that Schneider's strategy is to grow organically where possible but to consider acquiring strong technology companies that can accelerate its strategy. IT Home also reported that data-centre-related services account for about a quarter of Schneider's sales and that the company supplies energy and technology services to chipmakers including Nvidia. [ 2 , 3 ]
Both tech outlets placed the deal in a wider industry context. cnBeta said it stands out as a rare large software transaction at a time when software-industry M&A has slowed markedly as companies grapple with the effects of artificial intelligence on their business models, and that it ranks among 2026's larger cross-border deals, with only ten deals worth more than $10 billion struck globally in the three months to the end of September. IT Home said European manufacturers are increasingly deploying AI to raise efficiency, and that competitors such as Siemens are also pushing into factory automation and industrial AI. [ 2 , 3 ]
cnBeta also reported that Autodesk had sought to acquire PTC in a cash-and-stock deal in July last year but abandoned it in favour of smaller bolt-on acquisitions. [ 2 ]
Why it matters
The deal would be far larger than Schneider's 2023 acquisition of Aveva and would extend the French group's industrial software and AI-enabled offering, an area where European manufacturers are investing as they modernise factories. Schneider already draws about a quarter of its sales from data-centre-related services, a business the documents link to demand from the AI boom. Software industry M&A has slowed markedly, so the transaction stands out as one of 2026's larger cross-border deals.
Key facts
- Schneider Electric said it agreed to acquire PTC in an all-cash deal at $205 per share, valuing PTC's equity at about $22.6 billion. [ 3 , 4 , 5 ]
- Schneider said the price is a premium of more than 40% to PTC's previous close, and the transaction is expected to complete in the third quarter of 2027. [ 3 , 4 , 5 ]
- Schneider said the roughly €22 billion cash consideration is backed by bridge loan facilities from Morgan Stanley and Societe Generale; Jiemian reported the deal will be funded through a combination of equity financing and new debt. [ 3 , 4 ]
- Morgan Stanley is Schneider's lead financial adviser and Evercore advises PTC, according to IT Home. [ 3 ]
- Earlier reports by CLS and cnBeta put the deal at about $20 billion and said it could be announced on Monday, with negotiations still under way and no certainty a deal would be reached. [ 1 , 2 ]
- cnBeta reported PTC's market value at $15.5 billion, with its shares down 15.3% in 2026, while Schneider's shares rose 28% this year to a market value of €175 billion, making it France's third-largest listed company. [ 2 ]
- PTC was founded in Boston in 1985 and is expected to post revenue of up to $2.75 billion in 2026, IT Home and cnBeta reported. [ 2 , 3 ]
- The deal would far exceed Schneider's $11 billion acquisition of Aveva in 2023, and follows its $3.1 billion deal for Cognite in June and its purchase of Shelly Group. [ 2 , 3 ]
Confirmed by several sources
- Schneider Electric agreed to acquire US software company PTC in an all-cash deal at $205 per share, valuing PTC's equity at about $22.6 billion. [ 3 , 4 , 5 ]
- The transaction is expected to be completed in the third quarter of 2027. [ 3 , 4 , 5 ]
- PTC is headquartered in Boston and was founded in 1985. [ 2 , 3 ]
Still unclear
- The headline value of the deal moved from about $20 billion in early reports to about $22.6 billion once the agreement was announced. CLS and cnBeta reported the lower figure in the hours before the announcement, while IT Home, Jiemian and 36Kr reported the announced figure; the documents do not explain the difference.
- Whether the transaction could still fail to complete. cnBeta said negotiations were still under way and it was not certain a deal would be reached, a caveat published before Schneider announced the agreement.
- The split between equity and debt in the financing. IT Home describes bridge loan facilities while Jiemian describes a combination of equity financing and new debt; the documents give no breakdown.
- The price Schneider paid for Shelly Group. cnBeta reported $1.4 billion while IT Home reported €1.2 billion.
- Schneider said the purchase price is a premium of more than 40% over PTC's previous trading-day close. Reported by a single source so far
- Schneider said the roughly €22 billion all-cash consideration is secured by bridge loan arrangements provided by Morgan Stanley and Societe Generale. Reported by a single source so far
- Morgan Stanley is Schneider's lead financial adviser and Evercore is PTC's adviser. Reported by a single source so far
What local media are saying
Timeline, local time
- CLS reports Schneider Electric is close to a deal to buy industrial software company PTC for about $20 billion, which could be announced as early as Monday. [ 1 ]
- cnBeta reports the two sides could announce an agreement as early as Monday but that negotiations are continuing and a deal is not certain. [ 2 ]
- IT Home reports Schneider has announced an approximately $22.6 billion all-cash acquisition of PTC at $205 per share, expected to close in the third quarter of 2027. [ 3 ]
- Jiemian reports Schneider has confirmed the acquisition, valuing PTC's equity at about $22.6 billion. [ 4 ]
- 36Kr carries the confirmation of the acquisition and its expected third-quarter 2027 closing. [ 5 ]
- Schneider chief executive Olivier Blum told Bloomberg Television on 30 July that the group's strategy is to grow organically where possible but to consider acquisitions of strong technology companies that can accelerate its strategy. [ 3 ]