Schneider Electric agrees to buy US software maker PTC for $22.6 billion

Schneider Electric has agreed to acquire PTC, the US industrial software company, for about $22.6 billion in what would be the largest acquisition in Schneider's history, according to an analysis published by Spherical Insights in October 2026.

PTC sells computer-aided design, product lifecycle management, application lifecycle management and service lifecycle management software, and serves more than 30,000 customers globally. Schneider, which already owns the software business AVEVA and has been building data and AI capabilities around assets including Cognite, said the combined company would serve more than 50,000 software customers and that the deal would expand its addressable industrial software market roughly threefold.

Investors were split on the transaction. Schneider shares fell nearly 10% after the announcement while PTC shares rose sharply, with concerns centred on the size of the deal, financing, integration and the delivery of projected revenue benefits, Spherical Insights said.

Schneider reported 21.2 billion euros in revenue for the first half of 2026, helped by demand tied to data-centre projects. The company estimates that artificial intelligence could account for as much as 50% of growth in US electricity demand between 2025 and 2030.

The companies are targeting completion in the third quarter of 2027, subject to shareholder and regulatory approvals.

This story was first reported by Spherical Insights.