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Schneider Electric Nears $20B Deal for PTC Software Firm
Confirmed
In Short: French industrial giant Schneider Electric is reportedly nearing a $20 billion acquisition of U.S. software firm PTC.
Schneider Electric is reportedly nearing a deal to acquire U.S. software firm PTC for approximately $20 billion, as reported by the Financial Times and confirmed by Sustainability Magazine.
The acquisition of PTC would bring a California-based software company into Schneider Electric's portfolio, which uses satellite imagery and AI to help utility companies identify and respond to climate risks including wildfires and storms.
PTC’s deal is part of a larger strategy for Schneider Electric, which recently agreed to buy industrial AI and data specialist Cognite for $3.1 billion.
Pankaj Sharma, EVP of Software & Services at Schneider Electric, stated, “The acquisition could expand what is possible rather than simply adding to a portfolio.”
The AiDASH deal, acquired by Schneider Electric in late 2022 through its SE Ventures investment arm, is modest compared to the Cognite transaction.
Once completed, subject to regulatory approval, AiDASH will be folded into Schneider Electric's Energy Management division and continue to operate with the same agile, fast-moving start-up spirit.
Meanwhile, General Motors has announced updates to its infotainment systems, including the reintroduction of Apple CarPlay and Android Auto, which were previously dropped from its electric vehicles.
The new interface will debut on the 2027 Chevrolet Silverado and 2027 GMC Sierra, before expanding across gas, diesel, and electric models.
GM’s decision to drop phone projection from its electric vehicles in 2023 sparked widespread backlash from car buyers and tech enthusiasts.
The refreshed software platform places infotainment controls, driver-assistance visuals, and third-party phone projection under a unified design language built on a single scalable foundation spanning electric, gasoline, and diesel-powered vehicles.
A GM spokesperson told Motor1 that “EVs remain the endgame for GM,” but the company has not confirmed whether phone projection will appear on electric vehicles running the new interface.
What this adds
The deal with PTC is expected to enhance Schneider Electric's capabilities in climate risk management and AI-driven solutions.
The AiDASH acquisition, while smaller, is part of Schneider Electric's broader strategy to integrate advanced software solutions into its energy management division.
What's confirmed
- Schneider Electric is reportedly nearing a deal to acquire U.S. software firm PTC for approximately $20 billion, as reported by the Financial Times and confirmed by Sustainability Magazine.
- The acquisition of PTC would bring a California-based software company into Schneider Electric's portfolio, which uses satellite imagery and AI to help utility companies identify and respond to climate risks including wildfires and storms.
- PTC’s deal is part of a larger strategy for Schneider Electric, which recently agreed to buy industrial AI and data specialist Cognite for $3.1 billion.
- The AiDASH deal, acquired by Schneider Electric in late 2022 through its SE Ventures investment arm, is modest compared to the Cognite transaction.
- Once completed, subject to regulatory approval, AiDASH will be folded into Schneider Electric's Energy Management division and continue to operate with the same agile, fast-moving start-up spirit.
- Meanwhile, General Motors has announced updates to its infotainment systems, including the reintroduction of Apple CarPlay and Android Auto, which were previously dropped from its electric vehicles.
- The new interface will debut on the 2027 Chevrolet Silverado and 2027 GMC Sierra, before expanding across gas, diesel, and electric models.
- GM’s decision to drop phone projection from its electric vehicles in 2023 sparked widespread backlash from car buyers and tech enthusiasts.
- The refreshed software platform places infotainment controls, driver-assistance visuals, and third-party phone projection under a unified design language built on a single scalable foundation spanning electric, gasoline, and diesel-powered vehicles.
- A GM spokesperson told Motor1 that “EVs remain the endgame for GM,” but the company has not confirmed whether phone projection will appear on electric vehicles running the new interface.
What's still developing
- "That's exactly how I felt from my very first conversations with Abhishek and the AiDASH team," he said.
- Together the two acquisitions could signal where Schneider Electric believes energy technology development will focus.
- The logo of Schneider Electric is pictured at the Global Industrie exhibition in Villepinte near Paris, France, March 26, 2024.
- But this has continued to be a point of resistance for GM EV buyers, many of whom simply won’t consider a car without CarPlay. (Personally I don’t get it – CarPlay was always a crutch for bad OEM interfaces, but as OEMs have caught up and finally started offering better software, phone projection has become less necessary.
- Comments Expand Close comments Expand Close comments Guides GM GM designs and manufactures a few electric vehic… Jameson has been driving electric cars since 2009, and covering EVs, sustainability and policy for Electrek since 2016.
- That’s all well and good, but the biggest update hidden in the middle of the announcement is a mention of “Updated Android Auto™ and Apple CarPlay” coming to these new GM trucks.
- Since then, it has done so, and those vehicles now rely on software co-developed by GM and Google.
- We first tried GM’s software in the Blazer EV, and felt like it was a pretty well-organized solution, much better than the OEM user interfaces of the past.
- Plus, phone projection software will never reach the deep level of integration that specific vehicle software can reach, so a custom solution will always have some technical capabilities that a generic solution doesn’t.) Today’s update may put this whole debate behind us….
- Late last year, CEO Mary Barra said that the technologies would be dropped from all GM vehicles, not just electric ones, but now it sounds like the company has changed course.