Schneider Electric, a French industrial conglomerate, is in negotiations to buy PTC, the Boston-based US industrial software maker.
PTC increased its annual revenue forecast in July, saying demand was strong for its industrial software and AI tools.
The companies have since moved towards finalising a deal valued at about $20 billion, with Schneider near completion of the proposed acquisition.
The Financial Times reported on Sunday, 4 October 2026, citing people with knowledge of the matter, that the transaction was close to completion. Reuters could not immediately verify the Financial Times report.
An announcement could come as soon as Monday. The talks are still under way and could yet fall apart.
PTC has a market value of about $15.6 billion, according to LSEG data.
For Schneider, the proposed purchase would be its latest step in expanding its software and digital operations. The transaction would bring together an industrial equipment group and a software company as manufacturers seek to connect factory hardware with digital systems used to design processes and manage operations.
That combination puts the software behind factory design and management closer to the companies supplying industrial equipment. For customers, the proposed deal reflects a market in which hardware, digital tools and AI-powered capabilities are increasingly being assembled into integrated industrial platforms.
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