Schneider Electric to Buy PTC for $22.6 Billion in All-Cash Deal at $205 Per Share

Schneider Electric, the French energy technology giant, agreed on October 5 to acquire Boston-based industrial software maker PTC Inc. for $205 per share in cash, valuing PTC's equity at approximately $22.6 billion and implying an enterprise value of $23.7 billion. PTC shares surged more than 35% in premarket trading on the news, making it one of the largest software deals of 2026.

The deal values PTC at 21 times estimated 2027 adjusted EBITA, or 13 times on that same metric including full run-rate synergies. Schneider Electric projects roughly 250 million euros in annual run-rate cost synergies to be achieved by Year 3, alongside approximately 800 million euros in expected revenue synergies, underpinning the strategic rationale for combining PTC's industrial product design and engineering software with Schneider's energy management and automation platform.

The PTC board has unanimously recommended that shareholders approve the merger agreement. Closing is expected by the third quarter of 2027, subject to a PTC shareholder vote and customary regulatory approvals. Schneider Electric said it would move up the release of its own third-quarter 2026 revenue results to October 16 as a result of the transaction. At least one analyst downgraded PTC following the announcement, likely reflecting the stock's rapid convergence toward the offer price.