Schneider Electric reportedly nears $20 billion PTC acquisition

Potential $20 billion deal

France's Schneider Electric is nearing a deal to acquire US software group PTC for about $20 billion, the Financial Times reported on Sunday, citing people with knowledge of the matter.

The newspaper said an announcement could come as soon as Monday. Discussions between Schneider Electric and PTC were still ongoing, and the report cautioned that there was no certainty the talks would result in a deal.

Report not yet confirmed

Reuters could not immediately verify the Financial Times report. Schneider Electric and PTC did not immediately respond to Reuters requests for comment outside regular business hours.

At the time of the report, no transaction had been confirmed. The possible Monday announcement and the reported value of about $20 billion remained subject to continuing discussions between the companies.

PTC market value and revenue outlook

Boston-based PTC had a market value of $15.63 billion, according to LSEG data cited in the report. The proposed acquisition would place a value of about $20 billion on the software group.

In July, PTC lifted its annual revenue forecast after third-quarter results. The company was betting on strong demand for its core industrial software and artificial intelligence-powered tools.

Sources: Reuters Via New York Post