Schneider Electric engineered an all-cash acquisition at $205 per share for 100% of the share capital of PTC, a multi-billion industrial software company based in Boston, MA. The total acquisition price is approximately $22.6 billion.
According to the press release, the acquisition will create a large  industrial software and AI franchise that will help customers with systems of design, control, data and intelligence.
Olivier Blum, Schneider Electric’s CEO said in the press release, “The acquisition of PTC represents an important step forward in our ambition to lead the new era of Energy and Industrial Intelligence. Together, we are attempting to create the industry’s most complete software & AI powerhouse and a high-quality portfolio bridging the physical and digital worlds.
“By connecting and contextualizing data across the lifecycle of products and assets, we will create a unique digital thread for the next generation of Industrial AI, helping customers to optimize their systems with greater intelligence from design and build to operate and maintain. Neil Barua and the PTC teams have established an outstanding track record of growth, innovation and customer success.
“At Schneider Electric, we have built a strong leadership position in industrial software with AVEVA under the leadership of Caspar Herzberg. Together, with Cognite’s unique AI capabilities, we will accelerate innovation, unlock new opportunities and create long-term value for our customers, employees and shareholders as we shape the future of energy and industrial intelligence.”