Schneider Electric agrees to buy PTC for $22.6B

What did Schneider Electric agree to buy?

Schneider Electric agreed on October 5, 2026 to acquire PTC in an all-cash transaction priced at $205 per share. The deal values PTC’s equity at about $22.6 billion and implies an enterprise value of $23.7 billion, according to Reuters, Le Figaro and Evertiq. Schneider described it as its largest-ever acquisition.

The companies said the definitive agreement covers 100% of PTC’s share capital. PTC is a Boston-based industrial-software company listed on Nasdaq, with more than 7,000 employees and more than 30,000 customers worldwide, according to Le Figaro’s account of the announcement.

Why does Schneider want PTC?

Schneider Electric said the acquisition is meant to build a scaled industrial software and AI franchise that combines Schneider’s assets with PTC’s software solutions. In Schneider’s framing, the combination would create an open and interoperable stack spanning design, control, data and intelligence, with a "digital thread" running from product design and build through operate and maintain.

Schneider CEO Olivier Blum said the transaction fits the company’s ambition to lead a new era of "Energy and Industrial Intelligence." He said the combined company would create one of the market’s most complete industrial software and AI portfolios, bridging the physical and digital worlds. Evertiq reported that Schneider also said PTC would add "critical product and engineering data fabric" to its industrial AI data foundation, which Schneider said would be further enhanced by its proposed acquisition of Cognite.

Bloomberg, via Energy Connects, said the transaction adds engineering software used in automotive, aerospace and medical technology to Schneider’s offering. The Edge Malaysia said PTC’s software helps manufacturers and product companies design, manufacture and service products across multiple sectors, and that the company has benefited from demand for AI-powered tools.

How is Schneider financing the deal?

Schneider said the acquisition will be financed with a mix of equity and new debt issuance. In its transaction presentation, the company said it expects to raise about €5 billion to €6 billion of equity, likely through an accelerated bookbuild offering, and issue about €16 billion to €17 billion of new debt.

Bloomberg reported that Schneider secured the roughly €22 billion cash consideration through a bridge facility from Morgan Stanley and Société Générale. Bloomberg also said Morgan Stanley is lead financial adviser to Schneider Electric, while Evercore is advising PTC.

Schneider’s offer represented a premium of more than 40% to PTC’s last closing price, Reuters, Bloomberg and The Edge Malaysia reported. The Edge Malaysia put the premium at 42.3%.

What happens next?

Schneider Electric and PTC said both boards unanimously approved the transaction. Schneider said closing is expected by the third quarter of 2027, subject to customary conditions, including a PTC shareholder vote requiring a majority of outstanding shares and regulatory approvals.

Le Figaro said Schneider expects annual cost synergies of about €250 million within three years and revenue synergies of about €800 million. The Edge Malaysia reported the same targets as annual run-rate cost savings by year three after closing and about €800 million of revenue synergies.

As a consequence of the deal announcement, Schneider said it would bring forward publication of its third-quarter 2026 revenue to October 16, 2026. Bloomberg also noted that Autodesk had pursued PTC in July of the prior year in a cash-and-stock deal before dropping the effort in favor of smaller tuck-in acquisitions.

For Schneider, the deal extends a broader push into software acquisitions after its agreement earlier in 2026 to buy Cognite, a private AI software and industrial data provider, Reuters reported via The Edge Malaysia. The company’s bet is that combining industrial hardware roots with software and AI tools can deepen its position in data-center infrastructure and industrial automation as demand for AI-related systems grows.