Schneider Electric, a France-based energy management and industrial automation company, is close to a deal to buy Boston-based industrial software maker PTC for about US$20 billion, according to a report citing people familiar with the matter.

An announcement could come as soon as October 5, but the talks could still collapse. The report could not be immediately verified, and neither company immediately responded to requests for comment.

PTC has a market value of about US$15.6 billion, according to London Stock Exchange Group data, and raised its annual revenue forecast in July.

It offers computer-aided design, product lifecycle management, and augmented reality software. Schneider already uses PTC technology.

Schneider is also pursuing Bulgaria-based Shelly Group, which sells smart-home automation and energy-monitoring devices. Its offer of 70 euros (US$79) per share values Shelly at about 1.3 billion euros (US$1.43 billion) and depends on Schneider securing at least 95% of the company’s shares and winning regulatory approvals.

The potential PTC deal would be larger than Schneider’s 2022 offer for AVEVA, which valued the company at about US$11 billion.

🔗 Source: Reuters

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