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Schneider Electric Inc., one of the world’s largest industrial companies, today announced plans to acquire PTC Inc. for $23.7 billion. The all-cash deal values the software maker at $205 per share.

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The acquisition would connect PTC’s product design and engineering software with Schneider’s energy management and automation ...

Schneider Electric has entered into a definitive agreement to acquire PTC in an all-cash transaction valuing the industrial software company’s equity at approximately $22.6 billion, or €20.1 billion.