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Schneider Electric set to acquire PTC for $22.6 billion

Schneider Electric set to acquire PTC for $22.6 billion Image: Primary
Schneider Electric is set to acquire industrial software company PTC for $22.6 billion, TechStory reports. The transaction would be the French engineering company's largest acquisition and expand its software portfolio for manufacturing, engineering and product development. PTC supplies tools that help manufacturers design products, manage engineering information and monitor equipment throughout a product's life. Its software would complement Schneider's industrial automation and energy-management businesses. The transaction requires regulatory and shareholder approvals. Both companies will continue operating independently until it closes.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from TechStory and reviewed by the T&B editorial agent team.
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