France's Schneider Electric agrees to buy US software firm PTC for $22.6 billion

On October 5, 2026, France's Schneider Electric announced its largest-ever acquisition, agreeing to buy US software firm PTC for $22.6 billion in cash. The $205-per-share offer values PTC at $23.7 billion, a 42.3% premium. The deal, expected to close in Q3 2027, will be financed through equity and new debt. Schneider, a major supplier to data centres, aims to expand its industrial software and AI capabilities. The acquisition follows Schneider's June purchase of Cognite Holding and is part of its strategy to capitalize on growing data centre demand.