Paul Weiss and Debevoise & Plimpton have taken the lead roles as Schneider Electric agrees to acquire PTC for $22.6bn.
The French multinational energy technology company has agreed to acquire PTC, a leading industrial software and intelligence platform, in an all-cash acquisition.
Debevoise is leading on the buy side, with a team led by New York M&A partners Jonathan Levitsky, recognised by Legal 500 as a leading partner for telecoms and broadcast transactions, and Spencer Gilbert, a leading partner for high-value M&A.
Paris corporate partner Philippe Tengelman also advised on the deal, as did executive compensation and employee benefits partner Jonathan Lewis, tax partner Samuel Krawiecz, and IP and tech transactions partner Henry Lebowitz in New York, and London capital markets partner Nicholas Pellicani.
Antitrust matters were handled by Ted Hassi and Rebekah Scherr in Washington DC, and Anne-Mette Heemsoth and Tim McIver in London.
The firm has a long-standing relationship with Schneider Electric, having advised the Fortune Global 500 company on a number of strategic transactions, including its $3.1bn acquisition of leading industrial data and AI software provider Cognite earlier this year.
Since he became a partner in 2021, Gilbert has co-led the firm’s teams advising Schneider Electric on five deals, including its acquisitions of Cognite and PTC.
Meanwhile, Paul Weiss is advising on the sell side, with a New York-based team that includes M&A partner Laura Turano, who is also recognised as a Legal 500 leading partner for high-value M&A, Scott Barshay, who became chair of the firm earlier this year and is in the Hall of Fame for the same category, and M&A partner Cristina Amodeo.
Commenting on the deal, Schneider Electric CEO Oliver Blum said: ‘The acquisition of PTC represents an important step forward in our ambition to lead the new era of Energy and Industrial Intelligence. Together, we are creating the industry’s most complete Software & AI powerhouse and highest-quality portfolio bridging the physical and digital worlds.’
The transaction is expected to close in Q3 of 2027, subject to customary closing conditions.
