Schneider Electric completed its acquisition of Aveva, a provider of industrial software. Aveva is now wholly owned and part of Schneider Electric, but intentions are to preserve Aveva’s business autonomy and future research-and-development investment.
Peter Herweck, CEO of Aveva, said: “Aveva is now optimally placed, with the collaboration not just of Schneider Electric but all its partners, to drive innovation, change and value for its customers. The last 50 years for Aveva have been incredibly exciting. Thank you to all of the stakeholders who have been part of the journey so far in creating a global leader in industrial software and data. I’m convinced that through continued investment and transformation, the best is yet to come.”
Philip Aiken, Chairman of Aveva, added: “It has been a pleasure to be chairman of Aveva over the last decade, as the business has grown to be a global leader in industrial software and the largest listed technology company in the UK. I’d like to thank the Board, our employees, customers, partners and investors for their contributions and support, and to wish Aveva continued success as part of Schneider Electric.”
The relationship between Aveva and Schneider Electric dates back several years now. Control reported the initial agreement to a combination of selected Schneider Electric industrial software assets and Aveva in August 2015.
In September 2022, the companies reached an agreement for Schneider to acquire full ownership of Aveva, and that deal was finalized this month.
Aveva addressed the acquisition at Aveva World 2022 in San Francisco. AutomationWorld’s David Greenfield reported that Aveva executives say the company will continue to work toward broad-based integration as a means to achieve its stated goal of bringing its technologies together into one software for engineering and operations.
