# Schneider Electric Signs All-Cash Deal for PTC at $205 a Share — ~$22.6B Equity, $23.7B EV Times of AI Desk · 2026-10-04 · Infrastructure [https://timesof.ai/2026/10/schneider-electric-ptc-20b](https://timesof.ai/2026/10/schneider-electric-ptc-20b) > Schneider Electric and PTC signed a definitive agreement on Oct. 5 for Schneider to buy PTC for $205 per share in cash — about $22.6 billion of equity value (€20.1 billion) and $23.7 billion enterprise value, a 42.3% premium to PTC’s last close. Financing is a Morgan Stanley / Société Générale bridge to be refinanced with roughly €5–6 billion of equity and €16–17 billion of debt. Closing is targeted by Q3 2027, subject to PTC shareholder and regulatory approval. Schneider’s shares fell about 4.7% on Tradegate before the open. **Updated October 5, 2026:** Sunday’s reported ~$20 billion talks became a signed deal. Schneider Electric and PTC announced a definitive all-cash agreement at **$205 per share** — about **$22.6 billion** of equity value and **$23.7 billion** enterprise value — above the ~$20 billion figure in Sunday’s FT/Reuters reports. The rumor became a contract, priced roughly **$2.6 billion** above the ~$20 billion FT/Reuters figure that circulated on Oct. 4. A company that got rich selling power and cooling into AI data centers is spending that windfall on industrial design and PLM software — and pitching the combination as an **“Energy and Industrial Intelligence”** franchise built on a **contextualized AI Data Foundation**, alongside **AVEVA** and the pending **Cognite** acquisition. ## What was signed On **October 5, 2026 (07:00 CEST)**, Schneider Electric and **PTC** said they had signed a definitive agreement under which Schneider will acquire 100% of PTC for **$205 per share in cash**. The companies’ joint release values PTC equity at approximately **$22.6 billion (€20.1 billion)** and implies an enterprise value of **$23.7 billion (€21.1 billion)** — a **42.3%** premium to PTC’s last closing price and a **46.1%** premium to the prior 30-trading-day volume-weighted average. Both boards unanimously approved the deal. Closing is anticipated by **Q3 2027**, subject to customary conditions including approval by PTC shareholders holding at least a majority of outstanding shares and required regulatory approvals. The PTC board resolved to recommend that shareholders approve the merger agreement. **Reuters**, carried by **The Star**, calls it Schneider’s **biggest deal ever** and notes France’s third-highest-valued listed company by market capitalisation (LSEG). ## Financing and synergies Total cash consideration of about **€22 billion** is secured through a fully committed **bridge facility** from **Morgan Stanley** and **Société Générale**. Schneider expects to refinance via an equity issuance of approximately **€5 to 6 billion** (accelerated bookbuild under existing AGM authorization) and new debt of approximately **€16 to 17 billion** across several currencies. Targeted synergies in the release: **€250 million** of annual run-rate cost synergies by Year 3, and approximately **€800 million** of expected revenue synergies. Schneider also projects immediate low-single-digit accretion to Adj. EPS (before purchase-price accounting) in the first full consolidation year, rising to mid-to-high single digits including full run-rate synergies. ## How the market took it Reuters reports Schneider’s shares were **down 4.7% on Tradegate before the market opened** as investors digested the size of the purchase and the premium. That is a **pre-open Tradegate** print, not the Euronext close. **J.P. Morgan** analysts, quoted by Reuters, said large-scale M&A is “typically unwelcome in the first instance by European investors,” while noting Schneider’s past deals have often proved strategically astute even when valuations were debated. ## How to read it This is still industrial software, not an AI-lab deal. The trade is AI-infrastructure cash flow changing form: data-center power-and-cooling margins redeployed into CAD/PLM/ALM/SLM software that sits closer to product and engineering data, sold publicly as an AI data-layer story. Whether European investors buy that framing will show up in the equity raise and the long regulatory path to a 2027 close. ## Limits - Deal terms, premiums, financing split, synergy targets, and Q3 2027 close timing are from the **Schneider Electric / PTC Oct. 5 press release** (read via FinanzWire / Les Echos Comfi regulatory-news mirror). - Share-price move (−4.7%) is Reuters’ **Tradegate pre-open** figure, not a confirmed Euronext session close. - Cognite remains a **pending** acquisition subject to its own closing conditions. - The earlier ~$20 billion figure was unconfirmed FT/Reuters sourcing; this piece supersedes it with the signed $205 / $22.6B / $23.7B stack. ## Sources - [Schneider Electric / PTC (via FinanzWire): Schneider Electric to acquire PTC, creating the next level of Energy and Industrial Intelligence (October 5, 2026)](https://www.finanzwire.com/press-release/schneider-electric-epa-su-schneider-electric-to-acquire-ptc-creating-the-next-level-of-energy-and-industrial-intelligence-dGRqi6qds3p) - [Reuters (via The Star): Schneider Electric to buy US software firm PTC in $22.6 billion deal (October 5, 2026)](https://www.thestar.com.my/tech/tech-news/2026/10/05/france039s-schneider-electric-confirms-226-billion-deal-to-buy-us-software-firm-ptc)