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Schneider Electric to acquire PTC for 22.6B
Schneider Electric, the French company, has cleared the way for its acquisition of the American software firm PTC for $22.6 billion, the largest in the company's history. The deal aims to expand data center operations and enhance capabilities in industrial software and artificial intelligence. The transaction caused Schneider's stock to drop by 10% in early trading in Paris, after experiencing a rise prior to the announcement, which wiped out approximately $17 billion from its market value. The engineering data owned by PTC will contribute to improving Schneider's AI applications, with expectations that the company's software revenues will reach around 24% of the total following the acquisition. Additionally, the deal is projected to generate annual savings of €250 million and revenue synergies worth €800 million by 2027.
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