00:00PTC surged 33.54% today on Schnader Electric buyout.
00:06PTC makes software that manufacturers use to design complex products,
00:12manage engineering data, and oversee products throughout their life cycles.
00:17Manufacturers pay PTC to use its industrial design, engineering, and product data software.
00:25PTC, INC gained 33.5% after Schnader Electric agreed to acquire the company.
00:33Yahoo reported that the all-cash deal values PTC, INC, at about $22.6 billion
00:40and offers shareholders $205 per share.
00:45PTC, INC's filing said that price represents a 42.3% premium to its last closing price.
00:54The definitive agreement turned PTC, INC, into the session's clearest acquisition story.
01:01More on Software vs. Restaurants, full recap linked.
