Schneider Electric to buy PTC for $22.6 billion in cash
Business
Schneider Electric, a French conglomerate, is snapping up Boston-based PTC for about $22.6 billion in cash ($205 per share).
The move is all about boosting Schneider's industrial software and AI game, with the deal expected to close by the third quarter of 2027.
Schneider expands AI deals and financing
This isn't Schneider's first big buy. They recently agreed to buy Cognite and announced the €1.2 billion acquisition of Shelly Group SE as part of their push into smarter manufacturing using AI.
To pay for PTC, they've lined up a bridge loan from Morgan Stanley and Societe Generale.
For context: PTC's value dropped 30% over the past year to around $15.6 billion, while Schneider is currently valued at roughly $197 billion.