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Schneider Electric to Buy PTC for 22.6 Billion

Schneider Electric agreed to acquire US software company PTC for 22.6 billion dollars to expand its data centre business. The deal aims to boost industrial AI capabilities despite investor concerns over software valuations and shares dropping.

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The logo of Schneider Electric is pictured at the Global Industrie exhibition in Villepinte near Paris, France, March 26, 2024. REUTERS/Benoit Tessier

Schneider Electric SE agreed to buy United States software company PTC Inc for $22.6 billion on Monday morning, marking its largest deal ever. The acquisition expands the industrial engineering company's software footprint amid booming data center demand. However, investors weighed software valuation risks and a high acquisition premium, sending the buyer's shares down nearly 10% in midday Paris trading.
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