Schneider Electric buys PTC for $22.6B in cash, its largest deal ever, to build an industrial software and AI arm

Schneider Electric agreed to acquire Boston-based PTC for $205 a share in cash, a $22.6B equity value and roughly $23.7B including debt, a 42% premium to Friday's close. Schneider is funding it with new equity and €16–17B of debt, targets €250M of annual cost savings by year three plus about €800M of revenue synergies, and expects to close in Q3 2027. PTC's CAD, PLM and IoT platforms give Schneider the design and operations data layer for industrial AI; for builders it signals that physical-world engineering data is now a strategic asset worth paying 20x+ EBITA for.