Schneider Electric is buying PTC for $22.6B in cash — $205 a share, a 42.3% premium — and its own stock got hammered on the news. It's the largest deal in the company's history, pitched as an industri

What happened: Schneider Electric signed a definitive agreement to acquire Boston-based PTC for $22.6bn to expand its industrial AI business. Schneider shares fell more than 9% in morning trading in Paris after the announcement. Key numbers: $205 per share in cash for 100% of PTC. Why it matters: Jefferies analysts said AI disruption fears depressed software valuations, letting Schneider buy PTC at a decade-low valuation, but that could keep weighing on Schneider shares. Schneider expects to pause buybacks in 2027 and 2028.

Schneider Electric signed a definitive agreement to acquire Boston-based PTC for $22.6bn to expand its industrial AI business. Schneider shares fell more than 9% in morning trading in Paris after the announcement.

Jefferies analysts said AI disruption fears depressed software valuations, letting Schneider buy PTC at a decade-low valuation, but that could keep weighing on Schneider shares. Schneider expects to pause buybacks in 2027 and 2028.