SCHNEIDER ELECTRIC WILL BUY US SOFTWARE FIRM PTC IN $22.6 BILLION DEAL

France's Schneider Electric struck its biggest deal ever on Monday, agreeing to buy US software company PTC for around $22.6 billion as it builds up its data centre business amid booming demand.

However, the French engineering company's shares fell nearly 10% in early Paris trading as ​investors weighed the size of the acquisition, the big premium offered for the shares and the outlook for software companies' valuations ​amid AI-related market uncertainty.

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