Schneider Electric drops $22.6B on PTC as datacenter boom rains money on infra companies
Part of a bigger play for smarter power infra
French multinational Schneider Electric has made headlines with its acquisition of American industrial software company PTC for $22.6 billion. The move comes as the boom in datacenters has driven up demand for power and cooling infrastructure. Schneider Electric's market capitalization has more than doubled in the last four years due to the AI boom.
PTC, founded in 1985, is known for its software in computer-aided design and lifecycle management for industrial products. The acquisition positions Schneider Electric to take advantage of the growing complexity and supply chain challenges in datacenter deployments. The all-cash deal is expected to close in late 2024.
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