Schneider Electric nears deal to buy industrial software group PTC for $20bn
Acquisition would be French group’s largest and expand its industrial software capability
Schneider Electric is in advanced talks to buy US engineering software provider PTC for about $20bn in a deal that would be the French industrial conglomerate’s largest acquisition, according to people with knowledge of the matter.
An agreement may be announced as soon as Monday, though discussions between the two companies were ongoing and there was no certainty they would result in a deal, the people added.
The potential deal would give Schneider a bigger footprint in the business of providing software to manufacturers to design products and manage them throughout their lifecycle. US-listed PTC has a market value of $15.5bn. It was founded in the 1980s and is based in Boston.
Schneider and PTC did not immediately respond to requests for comment.
Buying PTC would far eclipse Schneider’s $11bn takeover of UK industrial software company Aveva in 2023.
Schneider’s chief executive Olivier Blum, who is less than two years into the top job, has told investors the company will be active in pursuing acquisitions.
Shares in Schneider, which specialises in energy management and industrial automation, are up 28 per cent this year, giving it a market capitalisation of €175bn. It ranks as France’s third-largest listed company.