France-based Schneider Electric is in advanced discussions to acquire US software company PTC for nearly $20 billion, according to livemint.com. The deal would represent Schneider's largest acquisition to date and significantly expand its industrial software capabilities. The Financial Times reported the talks on October 4, with an announcement expected soon, though the outcome remains uncertain.
The acquisition talks follow Schneider's recent strategic moves in industrial software, including its $11 billion purchase of UK-listed Aveva in 2023 and a $3.1 billion deal for industrial data and AI provider Cognite in June 2026. The potential PTC deal would enhance Schneider's portfolio with software tools that assist manufacturers in designing industrial products and engineering specifications. Discussions are ongoing, and no final agreement has been confirmed, livemint.com reported.
This proposed acquisition stands out amid a slowdown in software sector activity as companies evaluate the impact of artificial intelligence on their business models. The $20 billion valuation would place the deal among the largest cross-border transactions of 2026, with only ten deals exceeding $10 billion globally in the third quarter. Schneider's continued focus on industrial software aligns with broader market trends emphasizing digital transformation in manufacturing and engineering.
If completed, the PTC acquisition would surpass Schneider's previous record deal and further solidify its position in industrial software. The Financial Times indicated that an announcement could come as early as October 5, marking a key milestone in Schneider's expansion strategy.