Schneider targets deeper industrial software exposure as AI and data-center demand reshape its growth strategy.

  • Schneider’s potential acquisition of PTC would be its largest-ever deal.
  • The deal would strengthen Schneider’s industrial software portfolio following its $11 billion AVEVA purchase in 2023.
  • PTC shares have fallen about 34% from their July 2025 peak amid muted growth expectations and portfolio divestitures.

Schneider Electric is nearing a deal to acquire U.S. software company PTC, Inc. (PTC) for more than $20 billion, according to Bloomberg, in what would be the French industrial giant’s largest acquisition to date.

PTC shares rocketed 17% in overnight trading late Sunday, as of 9:35 p.m. EDT, according to data from Yahoo Finance and TradingView. If gains hold, the stock could be headed for its best day in nearly 16 months.

The deal could be announced as soon as Monday, reports said, although talks were still ongoing and there was no certainty they would result in a transaction. The Financial Times first reported the talks, with Reuters and Bloomberg subsequently reporting on the discussions, all citing sources familiar with the matter.

PTC went public in 1989 and had a market capitalization of $15.6 billion as of Friday. 

PTC Deal Would Expand Schneider’s Software Footprint

Boston-based PTC develops software used by companies to design, manufacture and service physical products. Its portfolio includes computer-aided design, product lifecycle management and industrial Internet of Things software, helping manufacturers manage products from design through production and service.

The potential acquisition would significantly expand Schneider’s software capabilities as it shifts further beyond its traditional electrical-equipment business. 

Schneider has been building a broader industrial technology platform spanning energy management, automation, software and AI.

The company took full ownership of industrial software maker AVEVA in 2023 in a deal that valued the company at about $11 billion, and agreed in June to buy Cognite, a privately held provider of AI software and industrial data. Schneider also recently announced the 1.2 billion-pound acquisition of Bulgarian smart-device maker Shelly Group.

AI And Data-Center Boom Adds To Strategic Appeal

PTC would add another major software franchise, particularly in engineering and product development, giving Schneider a larger presence across the industrial software stack.

The timing also fits Schneider’s growing exposure to AI and data-center infrastructure. Reuters noted that strong U.S. data-center demand has been driving Schneider’s earnings, helping offset weakness in some traditional electrical-equipment markets.

Schneider raised its annual revenue forecast in July after reporting record first-half results, citing strong demand for industrial software and AI-powered tools. PTC, meanwhile, has benefited from growing demand for its own AI-enabled products.

PTC: Retail View, Stock Move

On Stocktwits, retail sentiment for PTC was ‘bearish,’ unchanged over the past week, with users reposting the deal speculation.

The stock hit an all-time high in July last year and has since declined about 34.4% on weak revenue growth, portfolio divestitures, and modest near-term growth expectations. 

The company sold its Kepware and ThingWorx businesses in March, weighing on reported revenue, while FY2026 revenue guidance implies roughly flat to slightly lower growth. Meanwhile, investors have yet to see AI meaningfully accelerate PTC’s growth, adding to pressure on its valuation.

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