Schneider Electric to buy PTC for US$22.6bn in AI Push

As energy and industrial intelligence enters a new phase, Schneider Electric and PTC are positioning themselves to meet rising demand for connected, data-driven manufacturing.

PTC is a global leader in complex industrial product design, engineering and data management. Its technology supports efficiency and excellence across manufacturing and supply chain operations.

On 5 October, PTC agreed to be acquired by Schneider Electric, the global energy management, industrial automation and industrial AI company. The transaction values PTC at US$22.6bn.

Olivier Blum, CEO of Schneider Electric, notes: “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. 

“By connecting and contextualising 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 optimise their systems with greater intelligence from design and build to operate and maintain. 

“Together, with Cognite’s1 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.”

Schneider Electric says the deal will preserve PTC’s central mission: creating modern, advanced software that helps customers design, build and maintain products with global impact.

Building an AI-led software portfolio

Schneider Electric builds core infrastructure for data centres, supplying cooling units, server racks and critical power distribution equipment. 

Its purchase of PTC, the company’s largest acquisition to date, signals a deeper commitment to the AI boom. 

It will also give Schneider engineering software for sectors including automotive, aerospace and medical technology.

The companies expect the combination to create a leading, scaled and interoperable industrial software and AI franchise designed to improve customer business outcomes.

Following the announcement, PTC shares climbed 15% overnight.

Schneider’s expanding acquisition strategy

PTC is not Schneider Electric’s only recent major purchase. 

The company has also announced plans to acquire Cognite and completed the US$1.3bn acquisition of Shelly Group SE, supporting its push into AI-enabled smarter manufacturing.

By linking engineering intent with real-world operational context, the PTC deal is intended to reinforce Schneider’s Energy & Industrial Intelligence capabilities. 

Neil Barua, CEO of PTC, says: “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 Lifestyle vision and expand our business into more geographies and end markets to serve more customers.”

It will also provide the trusted context AI agents need to help customers improve productivity, efficiency and sustainability.

Schneider will fund the multi-billion-dollar acquisition through equity and new debt. It will pay US$205 per PTC share –  a 42.3% premium to PTC’s closing price on 2 October. 

Schneider Electric partners: 

AVEVA: Schneider Electric took a majority stake in UK industrial software provider AVEVA in 2017 before securing full ownership in January 2023. Operating within Schneider, AVEVA advances digital twin, engineering and operational software designed for AI data centres.

NVIDIA: Schneider expanded its AI infrastructure capabilities through a partnership with NVIDIA that began in December 2024, focusing on data centre cooling design. By March 2026, the alliance introduced an 800-volt architecture alongside a Vera Rubin power and cooling reference design, while initiating early trials of NVIDIA's Nemotron model to support agentic alarm management.

Kraken: In June, Schneider joined forces with London-headquartered Kraken, developer of a grid flexibility operating system. The collaboration aims to assist utilities in lowering grid capacity expenses, increasing power flexibility and accelerating electrification, bolstering Schneider's footprint in energy infrastructure.