Schneider Electric to Acquire Software Maker PTC for $22.6 Billion
The deal aims to combine PTC's industrial software portfolio with Schneider Electric's offerings to create a leading industrial software entity.
Schneider Electric announced its agreement to acquire PTC, a software company specializing in industrial solutions, for $22.6 billion. The acquisition is intended to merge PTC's expertise in product lifecycle management (PLM) and internet of things (IoT) software with Schneider Electric's extensive industrial automation and digital transformation capabilities.
The combined entity aims to offer one of the most comprehensive industrial software portfolios available on the market. This strategic move is expected to enhance Schneider Electric's position in the industrial software sector, enabling it to provide integrated solutions for product design, simulation, operations, and service management.
PTC is known for its software platforms such as Windchill for PLM and ThingWorx for IoT. Schneider Electric, a global specialist in energy management and automation, has been investing in digital solutions to support its customers in their digital transformation journeys. The acquisition is anticipated to accelerate growth for both companies by leveraging their complementary technologies and market reach.