Schneider Electric to Acquire PTC in $22.6 Billion Software Deal

France's Schneider Electric has agreed to purchase U.S. software company PTC for approximately $22.6 billion in an all-cash transaction. This acquisition aims to bolster Schneider Electric's focus on industrial software and AI-powered tools, capitalizing on the increasing demand for data centers. The move also helps mitigate weaknesses in its traditional electrical-equipment markets, signaling a strategic shift.