Schneider Electric Swallows Aveva in $11 Billion Acquisition
Summary
The FT noted that the deal strips the London stock market of one of its few remaining large tech groups. Last month, Canada’s OpenText acquired UK software developer Micro Focus International in a £5.1 billion deal. He said the company wanted to “accelerate the path to deliver to our customers one data hub.” Aveva on Wednesday confirmed that it had accepted the proposed offer. It described Schneider as “a supportive shareholder and partner.” This was demonstrated most recently in the $5 billion acquisition of operational data platform developer OSIsoft in March 2021. The company added that customers are increasingly turning to industrial software to find greater efficiency and sustainability.
Classifications
industries
Energy & Natural Resources
applications
Business Planning / Continuity
AskAI Classifications
Labels
Industrial Software
SaaS
SCADA Software
Linked Companies
AVEVA
$1B+
Schneider Electric
$1B+