Schneider Electric and PTC announced a definitive acquisition agreement on October 5. The French energy-technology company will pay $205 in cash for each PTC share, valuing the Boston-based industrial software company’s equity at about $22.6 billion and the deal’s enterprise value at $23.7 billion. The offer is a 42.3% premium to PTC’s last closing price. The companies say the combination will expand industrial software and AI offerings used in product design, engineering and manufacturing operations. Schneider expects to finance the purchase with a mix of equity and new debt, and forecasts cost and revenue synergies; those are company estimates, not realized savings. The agreement was approved by both boards, but PTC shareholders and regulators must still approve it. The companies anticipate closing by the third quarter of 2027. For US customers and employees, the immediate fact is a proposed ownership change, not a confirmed change to software prices, products or staffing.