Schneider Electric Set to Acquire PTC in $20 Billion Software Industry Mega-Deal
Schneider Electric’s Strategic Move in the Software Sector
Deal Overview and Current Status
Oct 4 (Reuters) – France’s Schneider Electric is nearing a deal to buy US software group PTC for about $20 billion, according to a person close to the deal on Sunday.
A deal may be announced as soon as Monday, the person said, adding that discussions between the two companies were ongoing and there was no certainty they would result in a deal.
Official Responses and Reporting
Schneider Electric and PTC did not immediately respond to Reuters’ requests for comment outside regular business hours. The Financial Times first reported the news.
Company Profiles and Market Value
PTC: Market Position and Offerings
Boston-based PTC has a market value of $15.63 billion
PTC, which provides software solutions for designing, manufacturing and servicing products across multiple sectors, has also benefited from growing demand for its AI-powered tools.
Schneider Electric: Expansion and Acquisitions
The deal would deepen the French engineering company’s push into software acquisitions, having agreed to acquire Cognite Holding in June, a privately held provider of AI software and industrial data.
Evolution from Components to Data Centers
Schneider, once known primarily for industrial components like fuses and circuit breakers, now builds the backbone of data centres, supplying everything from cooling units and server racks to critical power distribution equipment.
Financial Performance and Market Trends
The booming demand for data centres, particularly from the United States, is driving Schneider’s earnings, offering a growingrical-equipment markets
Financial Outlook and Future Prospects
In July, Schneider Electric lifted its annual revenue forecast after reporting record first-half results, betting on strong demand for its core industrial software and artificial intelligence-powered tools.
Reporting Credits
(Reporting by Sabrina Valle in New York and Harishankar Manoj in Bengaluru; Editing by Cynthia Osterman and Nick Zieminski)
