Schneider Electric reportedly nears $20 billion deal to acquire PTC
PTC•Schneider Electric is reportedly nearing a deal to acquire U.S. software group PTC for about $20 billion. Talks are ongoing, with no certainty of a deal; an announcement may come as soon as Monday.
1. Talks remain ongoing
Schneider Electric is nearing a deal to buy PTC for about $20 billion, a person close to the deal said. Discussions were ongoing and there was no certainty they would result in a deal; an announcement may come as soon as Monday.
2. Software and data centers
The acquisition would deepen Schneider’s push into software acquisitions. The company agreed in June to acquire Cognite Holding, a privately held provider of AI software and industrial data. Schneider’s data-center business is benefiting from strong demand, particularly in the United States.
3. Recent company performance
PTC provides software for designing, manufacturing and servicing products across multiple sectors and has benefited from demand for its AI-powered tools. In July, Schneider lifted its annual revenue forecast after reporting record first-half results.
