Schneider Electric agreed on Monday to acquire Boston-based PTC for $205 a share, valuing the industrial software company's equity at about $22.6 billion.
By the numbers: The $205-a-share price implies an enterprise value of $23.7 billion and a 42.3% premium to PTC's last closing price, or 46.1% over its 30-day volume-weighted average share price.
Zoom in: PTC sells computer-aided design and product lifecycle management software to more than 30,000 customers worldwide. It generated 2.4 billion euros of revenue in calendar 2025 at roughly a 40% adjusted EBITA margin, with revenue expected to grow about 10% a year through 2029.
- Schneider expects 250 million euros of annual run-rate cost synergies by year three and about 800 million euros of revenue synergies.
What they're saying: "Together, we are creating the industry's most complete Software & AI powerhouse and highest-quality portfolio bridging the physical and digital worlds," Schneider CEO Olivier Blum said.
- "This all-cash transaction is the culmination of the PTC Board's commitment to maximize shareholder value," PTC president and CEO Neil Barua said.
The big picture: Schneider was once known mainly for fuses and circuit breakers. It now supplies cooling units, server racks and power distribution gear for data centers, and data center demand, much of it American, is driving its earnings.
- The company already owns industrial software maker AVEVA and agreed in June to buy Cognite, a provider of AI software and industrial data, both of which it cited as the foundation PTC will plug into.
What's next: Schneider will finance the purchase with a mix of equity and new debt, and the deal is expected to close in the third quarter of 2027, leaving room for regulators in several jurisdictions to weigh in.
Why it matters: Industrial software is where the AI build-out meets the factory floor, and a 42.3% premium shows what buyers will pay for the engineering data that trains the next generation of industrial AI.
