Schneider Electric and AVEVA to create a global leader in industrial software

By Schneider Electric news release

Aug 12, 2015

Schneider Electric has reached a preliminary, non-binding agreement with AVEVA Group PLC on the key terms and conditions of a combination of selected Schneider Electric industrial software assets and AVEVA, forming the “Enlarged AVEVA Group”.

It is expected that the proposed transaction would:
1. Create a global leader in industrial software, with a unique portfolio of asset management solutions from design & build to operations, with both scale and a distinct market position to address critical customer requirements along the full asset life cycle in key industrial and infrastructure markets;
2. Unlock additional value at enlarged AVEVA and Schneider Electric through the potential for material revenue and costs synergies, leveraging on complementary end-markets exposures, customer bases and product portfolios;
3. Establish a ‘best in class’ management team and increased brand profile for attracting further talent; and
4. Realize the full value of the contributed industrial software assets.

Read the full story here.

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