Technology

Schneider Electric acquires 100% of Aveva for €4.4bn

Schneider Electric will buy the entire stake in Aveva, the UK-based industrial software publisher in which it took a majority stake in 2017, after a first attempt in 2015. The industrial group already owns over 59% of the capital. Having paid £31 per share (£3.87 billion), a 40% premium over the price before the industrialist’s offer, Schneider values ​​the company at £9.5 billion (€11.5 billion). The transaction is expected to close in the first quarter of 2023.

Aveva develops solutions for the chemical, energy, water, transportation, marine and mining industries. The company will enable the French multinational, which offers digital transformation solutions for energy management and industrial automation, to accelerate this transformation.

Aveva will remain independent

Schneider Electric wants to keep Aveva independent, which will remain in Cambridge, England and not have to cut jobs.

Schneider used Aviva software at one of its Kentucky manufacturing sites, which is considered a Factory 4.0 model powered by the Industrial Internet of Things (IIoT). The two partners also worked together to modernize another manufacturing facility located in Indonesia. In 2020, Aveva acquired IIoT specialist Osisoft for $5 billion.

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