This $23 billion software deal was struck at a decade-low valuation, as AI winner takes out loser
THE SO WHAT
Industrial AI beneficiaries are starting to vertically integrate software at depressed SaaS multiples—Schneider using AI windfall to buy design tooling at a decade-low valuation is a template. If you’re a horizontal tool in an AI-fueled value chain, assume your best acquirer is an upstream hardware or infra winner, not another software company.
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