PTC acquired by SCHNEIDER ELECTRIC

Schneider Electric agreed on 5 October 2026 to acquire 100% of PTC, the Boston-based industrial software company, in an all-cash deal valuing it at an enterprise value of $23.7B. The offer price represented a 42.3% premium to PTC's last closing price and a 46.1% premium to its 30-day volume-weighted average share price, and the boards of both companies approved the transaction unanimously, with PTC's board recommending it to shareholders. It was the largest acquisition in Schneider Electric's history, ahead of its purchase of Aveva in 2023, and followed its June 2026 agreement to buy Cognite, a provider of industrial AI and data software. At the time of the deal, PTC generated revenue of $3.0B, employed more than 7,000 people and served more than 30,000 customers, with particular strength in discrete and hybrid manufacturing. Schneider Electric planned to extend its software business upstream, from industrial operations, automation and energy into product design, engineering and lifecycle management, raising software and services to an estimated 24% of group revenue and roughly tripling its addressable market in industrial software. It expected cost synergies by the third year after completion and revenue synergies from cross-selling, and forecast the deal to add to adjusted earnings per share from the first full year of consolidation. The cash consideration was secured by a fully committed bridge facility from Morgan Stanley and Société Générale, to be refinanced through an accelerated bookbuild share offering under an existing shareholder authorisation and new debt issued in several currencies. Morgan Stanley acted as lead financial advisor to Schneider Electric, with Goldman Sachs as financial advisor and Debevoise & Plimpton as legal counsel, while Evercore and Paul, Weiss, Rifkind, Wharton & Garrison advised PTC. Completion was expected by the third quarter of 2027, subject to approval by PTC shareholders and regulators.

Previously, Ptc had completed the acquisition of Servicemax in 2022 as part of its consolidation strategy.