BUZZ - PTC shares soar after Schneider Electric agrees to acquire PTC for $22.6 billion

October 5 - ** Shares of software company PTC (PTC.O) rose 34.6% in pre-market trading to $193.8

** France's Schneider Electric (SCHN.PA) (link) agreed to acquire PTC in an all-cash deal that values PTC's equity at about $22.6 billion

** The offer of $205 per share corresponds to an enterprise value of $23.7 billion, representing a 42.3% premium over PTC's previous closing price

** According to data from London Stock Exchange Group (LSEG), this is Schneider Electric's largest acquisition to date

** Following its agreement in June this year to acquire private AI software and industrial data provider Cognite Holding (link), this deal continues SCHN’s push into the software sector

** As of the previous trading day close, PTC's share price had dropped 17.3% so far this year, while SCHN's share price had risen 17.4% over the same period

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