Schneider Electric drops $22.6B on PTC as datacenter boom rains money on infra companies

Schneider Electric's market cap has more than doubled in the past four years as the AI boom has driven unprecedented demand for datacenter power and cooling infrastructure. Now the French multinational is cashing in on its good fortunes to cement its place as a key provider of industrial power and datacenter infrastructure with the $22.6 billion acquisition of American industrial software company PTC. Founded in 1985, PTC made a name for itself developing software for computer-aided design, plus