Schneider Electric Agrees to Buy PTC for $22.6 Billion

France's Schneider Electric has agreed to acquire Boston-based PTC in an all-cash deal that values the U.S. industrial software company's equity at approximately $22.6 billion.

Schneider Electric will pay $205 per share for PTC.

The offer represents a 42.3 percent premium to PTC's last closing share price and implies an enterprise value of $23.7 billion. The boards of both companies unanimously approved the transaction, and PTC's board will recommend it to shareholders. The deal is Schneider's largest acquisition to date.

The acquisition expands Schneider's software and industrial AI capabilities.

PTC provides computer-aided design, product lifecycle management and related tools used across automotive, aerospace and other manufacturing sectors. Schneider plans to combine these assets with its existing offerings and its pending acquisition of Cognite, announced earlier this year, to build a broader platform for energy and industrial intelligence.

Financing combines equity and debt issuance.

The roughly 22 billion euros in cash consideration is backed by a fully committed bridge facility from Morgan Stanley and Société Générale. Schneider intends to raise between 5 billion and 6 billion euros in new equity and 16 billion to 17 billion euros in debt. The company expects 250 million euros in annual run-rate cost synergies by the third year after closing and about 800 million euros in revenue synergies. Software is projected to account for roughly 24 percent of pro forma group revenue following the transaction.

Closing is targeted for the third quarter of 2027.

The deal remains subject to regulatory approvals and a shareholder vote at PTC. Schneider shares fell nearly 10 percent in early Paris trading after the announcement, while PTC shares jumped about 35 percent in U.S. premarket trading. PTC generated about 2.4 billion euros in revenue in calendar 2025, according to the companies.