PTC (NASDAQ: PTC) agrees to Schneider Electric buyout at $205 a share

What happened

PTC Inc. (NASDAQ: PTC) said on October 5, 2026, that Schneider Electric signed a definitive agreement to acquire it for cash. PTC shareholders will receive $205 a share, and the company said the deal values equity at about $22.6 billion and implies a $23.7 billion enterprise value. The boards of both companies approved the merger, and PTC's board recommended that shareholders approve it.

Key numbers

Metric	Latest	Change	Source
Cash offer	$205 per share		Exhibit 99.1 press release
PTC equity value	$22.6 billion		Exhibit 99.1 press release
Implied enterprise value	$23.7 billion		Exhibit 99.1 press release
Premium to last close	42.3%		Exhibit 99.1 press release
CY25 revenue	$2.4 billion		Exhibit 99.1 press release
CY25 Adj. EBITA margin	~40%		Exhibit 99.1 press release

Read more: PTC (PTC) stock analysis and investment case

Why it matters

OptimistFi's case is that PTC can compound value if its software stays embedded in industrial workflows and renewals keep turning into cash. Schneider Electric said PTC serves more than 30,000 customers globally. It sells CAD, PLM, ALM and SLM tools that help customers design, build and maintain complex physical products.

Schneider Electric said PTC generated $2.4 billion of revenue and about a 40% Adj. EBITA margin in CY25. The offer carries a 42.3% premium to the last close, and OptimistFi's own comparison shows the enterprise value is about $1.1 billion above the equity value.

The filing says the transaction is expected to deliver 250 million of annual run-rate cost synergies by Year 3 and about 800 million of revenue synergies. It also says the deal should be low single-digit accretive to Adj. EPS in the first year of full consolidation and mid- to high-single-digit accretive including full run-rate synergies. The merger is still pending shareholder and regulatory approvals, so the cash value is not yet realized.

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What's next

PTC said shareholders holding a majority of outstanding shares must approve the merger. The deal also needs antitrust and foreign investment clearances, including HSR and CFIUS review. Closing is anticipated by Q3 2027. If approvals slip or fail, the transaction could miss that target. Schneider Electric will host an investor call at 8:00 a.m. Central European Time on October 5, 2026, and will bring forward third-quarter 2026 revenue release to October 16, 2026.

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