Schneider Electric buying Aveva, adding software

Aug. 26, 2015
Schneider Electric reported July 20 that it's agreed to combine some industrial software assets with Aveva, and pay £550 million to become the majority shareholder of an enlarged Aveva Grou

Schneider Electric reported July 20 that it's agreed to combine some industrial software assets with Aveva, and pay £550 million to become the majority shareholder of an enlarged Aveva Group with combined revenues and adjusted earnings before taxes, interest and amortization (EBITA) of about £534 million and about £130 million, respectively. The two companies report the enlarged Aveva will:

  • Create a global leader in industrial software with a portfolio of asset-management solutions from design-and-build to operations, which can address user needs along the full asset lifecycle;
  • Unlock added value at Aveva and Schneider Electric with the potential for earnings and cost synergies by leveraging complementary end-markets, customer bases and product portfolios;
  • Establish a best-in-class management team and increased brand profile for attracting further talent; and
  • Realize the full value of the contributed industrial software assets.   
About the Author

Jim Montague | Executive Editor

Jim Montague is executive editor of Control.