Schneider Electric to acquire PTC for $22.6B in all-cash deal, betting on industrial AI
On October 5, Schneider Electric announced a $22.6B all-cash acquisition of US-based PTC at $205/share, a 42.6% premium over the previous close, marking the largest acquisition in the company's nearly 200-year history.
On October 5, French industrial conglomerate Schneider Electric announced a $22.6B all-cash acquisition of US-based industrial software company PTC at $205 per share (including debt around $26.7B enterprise value), a 42.3% premium over the previous day's close. This is the largest acquisition in Schneider's nearly 200-year history. Closing is expected in Q3 2027, subject to shareholder and regulatory approval.
PTC's core products include Creo (CAD) and Windchill (product lifecycle management), serving about 30,000 customers, with 2025 revenue around €2.4B and adjusted EBITA margin around 40%. Schneider CEO Olivier Blum said the deal would integrate product lifecycle data to build the industry's most complete software and AI platform. Funding comes from €5-6B in new equity and €16-17B in new debt.
The deal is Schneider's third major move in six months — after acquiring industrial AI company Cognite in June and smart home / energy management company Shelly last month. Market reaction was mixed: PTC shares spiked more than 35% intraday, while Schneider dropped 7-10% in Paris on concerns about price and equity dilution.
From an industry standpoint, the Schneider-PTC integration targets the full-lifecycle entry point for industrial AI — connecting product design (CAD), engineering data management (PLM), operational data (Schneider's energy management and building automation) and AI model deployment. This fits the broader trend of blurring boundaries between traditional software vendors in the industrial AI wave.