Schneider Electric is buying $PTC for $205/share in cash. → ~$22.6B equity value → 42.3% premium to Friday's $144.03 close → Funded with new equity + debt → Expected close: Q3 2027 It already owns AVEVA (plant operations software) and the automation hardware. PTC adds the design end: Creo (CAD), Windchill (PLM) and Onshape. Design → factory floor, one stack. A direct shot at Siemens and Dassault. Many PTC customers run automation gear from Schneider's rivals. Will they trust design software owned by a hardware competitor? Awkward for $ROK in particular, a former PTC strategic partner. Nearly a year. PTC software is deep inside aerospace & defense, so I'd expect CFIUS scrutiny for a French buyer. (My read; approvals not yet detailed.) Schneider shareholders pay. 42% premium + share is
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