Schneider Electric agreed to buy PTC for $205 per share in cash, valuing its equity at about $22.6 billion. This move while surprising, reiterated that Schneider wants to own both the hardware and the software behind AI-era factories and data centres.
The deal is expected to close by Q3 2027. The price is a 42.3% premium to PTC's previous close and implies an enterprise value of $23.7 billion.
Schneider will fund it with €5–6 billion of new shares and €16–17 billion of debt.
PTC stock jumped 36%, while Schneider fell as much as 9.4% in Paris, its worst day since April.