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The Economic Times
The Economic Times

Schneider Electric to buy US software firm PTC for $22.6 billion

PTC Schneider Schneider Electric United States

French energy and software group Schneider Electric said Monday that it would buy PTC, a US-based maker of software for industrial clients, for $22.6 billion in cash.

The move comes as software companies are racing to secure revenue streams amid fears that artificial intelligence advances will increasingly compete against their services at lower costs.

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