Schneider Electric acquires industrial software company PTC for $22.6 billion

Schneider Electric has acquired PTC, an industrial software producer in the United States, for a total valuation of approximately $22.6 billion. The acquisition will involve Schneider purchasing all outstanding shares of PTC in cash, a deal that represents a premium of about 42% over PTC's current stock price.

Olivier Blum, CEO of Schneider Electric, stated that the acquisition of PTC marks a significant step for the company in the fields of energy and intelligent industry. This move is expected to enhance Schneider's portfolio by integrating both software and artificial intelligence, bridging the gap between the physical and digital worlds.

PTC is known for its smart software and systems for the industrial sector, boasting a customer base of over 30,000 worldwide. The company offers notable products in areas such as Computer-Aided Design (CAD), Product Lifecycle Management (PLM), and Application Lifecycle Management (ALM) related to the design and development of industrial products. Blognone reported the story.