Schneider Electric to acquire US software firm PTC in $22.6 billion deal

France's Schneider Electric has agreed to acquire US software company PTC for approximately $22.6 billion, marking its largest-ever deal. The acquisition aims to bolster Schneider's data center business amidst surging demand, particularly for AI-powered tools. Following the announcement, Schneider's shares experienced a nearly 10% decline in early Paris trading, reflecting investor concerns over the deal's size and the premium offered. The transaction is expected to close by the third quarter of 2027, pending shareholder and regulatory approvals.