France's Schneider Electric nears $20 billion deal to buy US software group PTC: Report

France's Schneider Electric is nearing a deal to buy US software group PTC for about $20 billion, the Financial Times reported on Sunday citing people with knowledge of the matter.

A deal may be announced as soon as Monday, the newspaper said, adding that discussions between the two companies were ongoing and there was no certainty they would result in a deal.

Reuters could not immediately verify the FT report. Schneider Electric and PTC did not immediately respond to Reuters' requests for comment outside regular business hours.


Boston-based PTC has a market value of $15.63 billion, according to LSEG data.

In July, the company had lifted its annual revenue forecast after third-quarter results, betting on strong demand for its core industrial software and artificial intelligence-powered tools.