The French group will pay $205 a share in cash for the Boston industrial-software firm, a deal it expects to close by the third quarter of 2027.
Schneider Electric said on Monday it has agreed to buy Boston-based industrial software company PTC in an all-cash deal at $205 a share, valuing PTC's equity at about $22.6 billion.
Reuters reported the French company expects the transaction to close by the third quarter of 2027. Bloomberg described it as Schneider's largest acquisition and said the price is a premium of more than 40 percent to PTC's last closing price, citing the company's statement.
The deal extends Schneider's push into software used in factories and product design, a market the company has tied to demand linked to artificial intelligence and industrial automation. PTC sells design, product-lifecycle and related industrial software.
Schneider is listed in Paris. PTC is listed in the United States. Closing remains subject to the conditions set out by the companies, with the stated timetable running into 2027.
Neither Reuters nor Bloomberg reported regulatory approval or shareholder votes as completed. Those steps, if required, would come before the targeted close.