Schneider Electric agreed to acquire Boston-based software firm PTC for about $22.6 billion in cash, its largest deal, at $205 a share. The offer is a 42.3 percent premium, with closing targeted by the third quarter of 2027.
France’s Schneider Electric agreed on Monday to buy US software company PTC for about $22.6 billion, its largest acquisition, Reuters reported. The all-cash offer is $205 a share, a 42.3 percent premium to PTC’s last close, and implies an enterprise value of $23.7 billion.
Chief executive Olivier Blum said PTC’s data assets would strengthen Schneider’s industrial AI offering. Reuters said the deal is expected to lift recurring software revenue to about 24 percent of group sales. Schneider expects about 250 million euros of annual run-rate cost savings by the third year after closing and about 800 million euros of revenue synergies.
Financing combines an equity issue of 5 billion to 6 billion euros under an existing shareholder authorisation and new debt of 16 billion to 17 billion euros, Reuters reported. Bloomberg said the cash consideration of about 22 billion euros is backed by a bridge facility from Morgan Stanley and Société Générale, with closing targeted by the third quarter of 2027.
Schneider shares fell nearly 10 percent, Reuters said, on concern about AI disruption and the size of the deal. Bloomberg said the stock dropped as much as 9.4 percent in Paris, the most since April, after rising almost 30 percent this year through Friday.
The transaction still needs customary closing conditions. It would add engineering software used in automotive, aerospace and medical technology to Schneider’s electrical and data-centre business.