| Deal value | $22.6B |
|---|---|
| Share of market cap | 144.6% |
| Share of annual revenue | 825.1% |
Key highlights
- All-cash offer of $205 per share represents a 42.3% premium to the last closing price
- Implied Enterprise Value of $23.7 billion represents a multiple of 21x 2027E Adjusted EBITA
- Projected annual run-rate cost synergies of 250 million Euros expected by the third year
- Transaction expected to generate approximately 800 million Euros in revenue synergies
- PTC will become a wholly owned subsidiary of Schneider Electric upon completion
What Is the Deal?
Schneider Electric and PTC Inc. announced a definitive merger agreement on October 4, 2026, under which a Schneider subsidiary will merge into PTC. The surviving entity will operate as a wholly owned subsidiary of Schneider Electric. The all-cash consideration of $205 per share values PTC's equity at approximately $22.6 billion. The transaction has received approval from the boards of directors of both companies. Upon the deal's effective time, PTC common stock will be delisted from the Nasdaq Global Market and deregistered under the Securities Exchange Act of 1934. The closing remains subject to customary regulatory approvals and the consent of PTC shareholders.
Deal Structure & Terms
- Cash consideration of $205 per share for 100% of PTC share capital
- Vested restricted stock units and board RSUs will be cancelled and converted to the cash merger price
- Unvested RSUs and PSUs will convert into deferred cash awards maintaining existing vesting schedules
- Performance conditions for PSUs will be deemed achieved at maximum levels following the effective time
- Acquisition alignment with the capital allocation framework set at the 2025 Capital Markets Day
Strategic Rationale
“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 creating the industry’s most complete Software & AI powerhouse and highest-quality portfolio bridging the physical and digital worlds.”
Business Overview
PTC provides software solutions that global manufacturers rely on for industrial product design, engineering, and data management. Its core technology portfolio includes computer-aided design (CAD), product lifecycle management (PLM), and Internet of Things (IoT) platforms. These tools enable companies to establish digital threads that connect physical assets with digital intelligence. The firm serves diverse end markets including aerospace, defense, and automotive sectors. Joining Schneider Electric provides PTC with expanded scale and resources to accelerate its Intelligent Product Lifecycle vision and enter new geographic markets to serve a broader customer base.
Financial Context
The $22.6 billion deal value represents a significant step up from PTC's pre-announcement market capitalization of $15.63 billion. The $205 per share offer reflects a 46.1% premium to the 30-trading day volume-weighted average share price. PTC reported annual revenue of approximately $2.74 billion with quarterly revenue of $600.05 million. The company maintains an RSI of 55.2 and a P/E ratio of 13.97. Integration with Schneider's AVEVA and Cognite units is expected to drive high-quality recurring revenues and support a digital flywheel ambition, with combined synergies projected to enhance long-term cash generation and shareholder value.
Up 34.7% since our story on 5 Oct: $144.03 when we broke it → $193.96 at the close on 13 Oct. Daily closing prices. Source: Yahoo Finance.
Show the prices
| 14 Sep | $136.65 |
|---|---|
| 15 Sep | $132.75 |
| 16 Sep | $131.16 |
| 17 Sep | $134.44 |
| 18 Sep | $135.89 |
| 21 Sep | $135.28 |
| 22 Sep | $140.00 |
| 23 Sep | $140.40 |
| 24 Sep | $137.41 |
| 25 Sep | $138.12 |
| 28 Sep | $139.69 |
| 29 Sep | $137.56 |
| 30 Sep | $140.30 |
| 1 Oct | $146.47 |
| 2 Oct | $144.03 |
| 5 Oct | $192.26 |
| 6 Oct | $193.00 |
| 7 Oct | $193.60 |
| 8 Oct | $193.73 |
| 9 Oct | $194.45 |
| 12 Oct | $194.39 |
| 13 Oct | $193.96 |
Management commentary
“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 creating the industry’s most complete Software & AI powerhouse and highest-quality portfolio bridging the physical and digital worlds.”
“Joining Schneider Electric is an incredible opportunity to elevate the scope and impact of what we deliver for our customers globally. We gain substantial scale and resources to accelerate innovation, advance our Intelligent Product Lifecycle vision, and expand our business into more geographies and end markets to serve more customers.”
| Share price | $144.03 |
|---|---|
| Market cap | $15.6B |
| Revenue (annual) | $2.7B |
| P/E (TTM) | 14.0× |
| 1-month price change | -5.75% |
| Sector | TechnologySoftware - Application |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
SEC filing by PTC Inc. announcing a definitive merger agreement to be acquired by Schneider Electric SE.
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