Schneider Electric agrees to buy PTC in deal valued at $22.6bn

Schneider Electric and PTC have signed a merger agreement for the industrial software maker. It values PTC's equity at about $22.6bn, up from the figure above $20bn that Bloomberg reported earlier.

Schneider Electric and PTC, the industrial software maker, have signed a merger agreement dated October 4, 2026. The agreement values PTC's equity at about $22.6bn and its enterprise value at $23.7bn. The Financial Times first reported the talks and a price of $205 a share in cash. Bloomberg, citing a source, had put the deal's value above $20bn.

PTC's market value stood at roughly $15.6bn on October 4, based on LSEG data cited by Reuters. The Financial Times reported that the $205 price would also mark a significant premium to PTC's closing level on October 2.

Closing requires approval from PTC shareholders and regulatory clearances. These include review under the Hart-Scott-Rodino Act, the US antitrust law, and review by the Committee on Foreign Investment in the United States, known as CFIUS. The Financial Times reported that European clearance would also be needed. The agreement includes a $700m termination fee payable by PTC under specified circumstances.

Schneider Electric has moved before to add software to its industrial business. It bought AVEVA for $11bn in 2023 and agreed in June 2026 to buy the Norwegian industrial AI firm Cognite for $3.1bn, a deal still awaiting approval.

On completion, PTC's common stock would be delisted from the Nasdaq Global Market. That would remove PTC as an independent trading vehicle, replacing the open-ended upside of standalone results with an outcome tied to the deal. Shares of companies bought for cash at a fixed price typically trade close to the offer as closing nears, so investor attention tends to move to timing and antitrust review rather than quarterly results. For Schneider Electric, folding PTC's software into its operations would reshape competition in industrial automation and product lifecycle software. It could also set a reference price against which other industrial software companies are measured if further consolidation follows.