RUEIL-MALMAISON (dpa-AFX) - France-based Schneider Electric (SBGSF.PK, SU.PA, SND.DE) is close to acquiring U.S. industrial software maker PTC Inc. (PTC) in a deal valued at about $20 billion, according to a report by the Financial Times, citing people familiar with the matter.
Shares of PTC closed down 1.67% at $144.03 on October 2, falling $2.44 during regular trading. However, the stock surged in overnight trading, rising 16.95% to $168.45, a gain of $24.4.
The proposed transaction could be announced as soon as Monday, although discussions are still ongoing and there is no guarantee that an agreement will be finalized, the report said.
A deal would mark one of Schneider Electric's largest acquisitions and would significantly expand its presence in industrial software, digital engineering and manufacturing technology. PTC, headquartered in Boston, develops software used for product design, industrial automation and digital transformation initiatives across a range of industries.
PTC currently has a market capitalization of approximately $15.6 billion.
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