Schneider Electric, a leading global industrial company specializing in digital automation and energy management, has completed the acquisition of software company AVEVA.
The software company, which has grown from a niche design software developer to a leading global industrial software company, was valued at over £10 billion.
Here’s their plan: According to a statement from the acquired company, Schneider Electric together with AVEVA will enable a holistic approach to digital transformation across a customer’s operations.
They are to drive step-change improvements through a reduction in energy, carbon, and resource intensity, accelerating the efficiency and sustainability of customer journeys.
AVEVA’s strategic focus is on becoming the number one SaaS provider of software and industrial information and evolving to a subscription-only business model. The acquisition is expected to accelerate that transition.
Business autonomy: The company noted that while it is now wholly owned and part of Schneider Electric, the intention is to preserve AVEVA’s business autonomy, future R&D investment, enhance the potential benefits for customers, and meet their needs faster with a stronger portfolio of solutions. Commenting on the impact of the acquisition on the company, CEO of AVEVA, Peter Herweck, 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.”
Chairman of the company, Philip Aiken also commented on the acquisition saying:
- “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.”
About the software: AVEVA’s software drives efficiency and reduces costs for over 20,000 customers worldwide, offering a Digital Twin for the whole asset lifecycle from Engineering through to Operations and Maintenance across diverse industries worldwide.
