Schneider Electric is in advanced talks to buy US engineering software provider PTC for about $20 billion, according to people with knowledge of the matter. An agreement could come as soon as Monday, though the talks were still ongoing and a deal was not certain.
Schneider Electric is nearing a deal to acquire PTC for about $20 billion, according to people with knowledge of the matter. The agreement could be announced as soon as Monday, though the people cautioned the discussions were ongoing and there was no certainty they would result in a deal.
Reuters said it could not immediately verify the FT report.
The acquisition would be Schneider Electric's largest ever, eclipsing its $11 billion takeover of UK industrial software company Aveva in 2023. Buying PTC would give Schneider a bigger footprint in software that helps manufacturers design products and manage them throughout their lifecycle.
PTC is US-listed, based in Boston, and was founded in the 1980s. It has a market value of $15.5 billion. Schneider and PTC did not immediately respond to requests for comment.
Schneider's chief executive Olivier Blum, who is less than two years into the role, has told investors the company will stay active in pursuing acquisitions.
Schneider shares are up 28% this year, giving the company a market capitalization of €175 billion. The French group, which specializes in energy management and industrial automation, ranks as France's third-largest listed company.
Sources: Financial Times, Investing.com
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