Schneider Electric to Acquire PTC for $22.6 Billion in Largest Deal in Company History

Schneider Electric has agreed to acquire Boston-based industrial software firm PTC Inc. in an all-cash deal valued at approximately $22.6 billion, or $205 per share, representing a premium of more than 40% to PTC's last closing price. The implied enterprise value of the transaction is $23.7 billion, or roughly 21 times PTC's estimated 2027 adjusted EBITA, and 13 times that figure including full run-rate synergies.

The acquisition is Schneider Electric's largest ever, surpassing its prior record $11 billion deal. The French energy technology conglomerate said the deal would add PTC's engineering software, which serves sectors including automotive, aerospace and medical technology, to its portfolio of electrical products and industrial AI offerings. The deal is expected to close by the third quarter of 2027.

PTC shares surged roughly 35 to 36 percent in premarket trading on October 5 following the announcement. Analyst sentiment shifted on the news, with at least one firm downgrading PTC on the same day, likely reflecting the stock's rapid convergence toward the deal price. The broader market opened the week with little momentum, with the 10-year Treasury yield hovering near 5.3% and elevated oil prices dampening appetite for risk assets.