Schneider’s $23 Billion Bet on PTC Is Seriously Aggressive

The financial mood is tense, borrowing costs are rising and dealmaking has been quieter since the summer. But Europe has a cohort of companies that are benefiting from the rise of artificial intelligence, and their animal spirits are stirring. Enter Schneider Electric SE with a surprising and very aggressive $23 billion deal to buy S&P 500 software firm PTC Inc.