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BackSchneider Electric plans to take over PTC for around $20 billion
Schneider Electric plans to take over PTC for around $20 billion
BREAKING
Handelsblatt47 minutes agoBusiness1 min readGermanyView original

Schneider Electric plans to take over PTC for around $20 billion

schneider electricptctakeover

Quick Look

  • According to insiders, the French company Schneider Electric is about to take over the US software company PTC for around 20 billion dollars.
  • Negotiations are ongoing and an announcement could come as early as Monday.

AI-generated summary

Why It Matters

Schneider Electric is transforming itself from an industrial components manufacturer into a provider of infrastructure for data centers and industrial software.

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New York,. According to a person familiar with the process, the French technology group Schneider Electric is about to take over the US software company PTC for around $20 billion. A corresponding agreement could be announced on Monday, the insider told the Reuters news agency on Sunday (local time).

However, discussions between the two companies were still ongoing. It is not certain whether they actually led to a conclusion. Schneider Electric and PTC could not immediately be reached for comment outside of regular business hours.

Boston-based PTC has a market value of $15.63 billion, according to LSEG data. The company offers software solutions for the development, manufacturing and maintenance of products in various industries and is also benefiting from growing demand for AI-powered tools.

For Schneider Electric, the acquisition would be a further step in expanding its software business. In June, the group agreed to take over Cognite Holding, an unlisted provider of AI software and industrial data.

Schneider Electric was previously best known for industrial components such as fuses and circuit breakers. The company now supplies the basic infrastructure for data centers, from cooling systems and server cabinets to important power distribution systems.

The strong demand for data centers, particularly from the US, is driving the group's profits and providing a growing source of income. In July, Schneider Electric raised its sales forecast for the full year after record results in the first half of the year. The company relied on strong demand for its industrial software and AI-supported tools.

What to Watch

AI outlook — possibilities, not facts

  • Possible announcement of the acquisition agreement on Monday.

    Possible · Within days

Open Questions

  • Will the takeover be officially confirmed on Monday?
  • How are the supervisory authorities reacting to the acquisition?

Related Topics

schneider electric
OrganizationsSchneider ElectricPTCReutersLSEG
PlacesNew YorkBoston
Topicsptctakeoversoftwareartificial intelligencedata centers
This article was originally published by Handelsblatt.

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