Schneider Electric strikes $22.6 billion deal for PTC

Schneider Electric will acquire U.S. software company PTC in what it calls its biggest deal ever, agreeing to pay about $22.6 billion. The announcement hit Schneider shares hard: they fell nearly 10% in early trading in Paris on October 5, with investors weighing deal size, a large premium for PTC, and uncertainty around software valuations amid AI-related concerns. The stock had risen 29% through October 2, wiping out nearly €15 billion ($17 billion) from market value after the drop. PTC shares jumped 34.4% in U.S. premarket trading. Jefferies noted the acquisition values PTC at a decade-low level, while Schneider says combining PTC’s engineering and design data will strengthen AI deployment.