Schneider Electric to Acquire PTC for More Than $20 Billion
French energy and software group Schneider Electric has signed a definitive agreement to acquire U.S. engineering software provider PTC for $22.6 billion in an all-cash transaction. PTC shares soared nearly 34 percent following the buyout announcement. The acquisition brings together Schneider, a specialist in equipment for energy systems like data center cooling and product management software, with PTC, a maker of computer-aided design and industrial process software based in Boston, Massachusetts. The combined company aims to form an open and interoperable industrial software and artificial intelligence franchise.
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- ✓ Schneider Electric has signed a definitive agreement to acquire PTC in an all-cash deal valued at $22.6 billion.
- ✓ PTC shares soared nearly 34 percent following the buyout announcement.
- ✓ Schneider Electric is a French energy and software group based in Rueil-Malmaison, France.
- ✓ PTC is a U.S.-based engineering software provider located in Boston, Massachusetts.
What changed
Schneider Electric and PTC finalized a definitive all-cash agreement valued at $22.6 billion, superseding earlier reports of a $20 billion valuation.
Live updates
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Schneider Electric Agrees to Buy PTC for $22.6 Billion
French energy and software group Schneider Electric has signed a definitive agreement to acquire U.S. engineering software provider PTC for $22.6 billion in an all-cash transaction. PTC shares soared nearly 34 percent following the buyout announcement. The acquisition brings together Schneider, a specialist in equipment for energy systems like data center cooling and product management software, with PTC, a maker of computer-aided design and industrial process software based in Boston, Massachusetts. The combined company aims to form an open and interoperable industrial software and artificial intelligence franchise.
Why it matters
Prior to the final agreement, initial reports indicated that talks were ongoing for a transaction valued at about $20 billion. The definitive deal values the U.S. software maker higher at $22.6 billion in cash. This purchase expands Schneider Electric's footprint in industrial software and data center infrastructure.
What is confirmed
- Schneider Electric has signed a definitive agreement to acquire PTC in an all-cash deal valued at $22.6 billion.
- PTC shares soared nearly 34 percent following the buyout announcement.
- Schneider Electric is a French energy and software group based in Rueil-Malmaison, France.
- PTC is a U.S.-based engineering software provider located in Boston, Massachusetts.
What to watch next
- Regulatory approvals required to close the acquisition
- Shareholder votes and closing timeline for the $22.6 billion cash deal
confidence 100%Sources used for this update (11)
- Financial Times — Schneider Electric nears deal to buy industrial software group PTC for $20bn
- Bloomberg.com — Schneider Electric to Acquire PTC for More Than $20 Billion
- WSJ — Schneider Electric to Buy Software Maker PTC for $22.6 Billion
- Reuters — Schneider Electric to buy PTC for $22.6 billion in all-cash deal
- axios.com — Schneider Electric buying PTC for $22.6 billion
- primexbt.com — Schneider Electric nears $20 billion deal to buy software group PTC
- economictimes.indiatimes.com — PTC shares soar nearly 34% after Schneider Electric agrees to $22.6 billion buyout
- evertiq.com — Schneider Electric to acquire US company PTC for $22.6 billion - Evertiq
- economictimes.indiatimes.com — Schneider Electric to buy US software firm PTC for $22.6 billion
- www.mk.co.kr — Schneider Electric, a global data center infrastructure solution company, will acquire U.S. engineer.. - ....
- www.chemengonline.com — Schneider Electric to acquire software firm PTC in $22.6-billion deal
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