Schneider Electric Nears $20 Billion Deal to Acquire PTC Software
The French industrial conglomerate is reportedly close to an agreement to purchase the U.S. software firm for approximately $20 billion.
French industrial conglomerate Schneider Electric is nearing a deal to acquire U.S. software group PTC for about $20 billion, according to a report by the Financial Times citing sources familiar with the matter. Discussions between the two companies are ongoing, and a deal could be announced as early as Monday, the report indicated.
However, the Financial Times also noted that there is no certainty the negotiations will conclude with an agreement.
PTC, based in Boston, has a market value of $15.63 billion as of LSEG data. In July, the company raised its annual revenue forecast following strong third-quarter results, driven by demand for its industrial software and artificial intelligence-powered tools.
Reuters was unable to immediately verify the Financial Times' report. Representatives for Schneider Electric and PTC did not immediately respond to requests for comment outside of regular business hours.