According to Schneider Electric, the company has agreed to acquire U.S. industrial software company PTC in an all-cash deal valued at about $22.6 billion for PTC’s equity, subject to shareholder and regulatory approval.
The acquisition is designed to strengthen Schneider Electric’s position in industrial software and artificial intelligence by combining PTC’s product design, engineering and data-management software with Schneider’s energy and industrial technology. The companies say the combination will create a broader digital platform connecting product design and manufacturing with operations and maintenance.