New Delhi, Oct. 5 -- France-based Schneider Electric is in advanced talks to acquire US software company PTC for nearly $20 billion, a move that would become Schneider's largest acquisition and boost its presence in industrial software.

The Financial Times reported the development on 4 October (Sunday), adding that an announcement is likely by Monday. However, citing people familiar with the matter, it noted that discussions between the two companies were ongoing and there was no clarity on whether they would result in a deal.

The potential PTC acquisition would mark an unusual software deal for Schneider, particularly at a time when activity in the sector has slowed significantly, as companies assess how artificial intelligence (AI) co...