Schneider Electric, a global leader in digital automation and energy management, has finalized the acquisition of software startup AVEVA.
The software company was valued at more than £10 billion, having developed from a specialist design software provider to a top worldwide industrial software corporation.
About the software:
AVEVA’s software improves productivity and lowers costs for over 20,000 customers worldwide, providing a Digital Twin for the whole asset lifetime, from engineering to operations and maintenance, across a wide range of sectors.
The strategy behind Acquisition:
Schneider Electric and AVEVA will offer a holistic approach to digital transformation throughout a customer’s operations, according to a statement from the acquired business.
They aim to drive step-change improvements in customer journey efficiency and sustainability by reducing energy, carbon, and resource intensity.
AVEVA’s strategic goal is to become the leading SaaS provider of software and industrial information, as well as to transition to a subscription-only business model. This transition is projected to be accelerated by the acquisition.
Business autonomy: While AVEVA is now entirely owned and part of Schneider Electric, the firm stated that the objective is to retain AVEVA’s business autonomy, future R&D investment, enhance the potential advantages for customers, and satisfy their demands faster with a better range of solutions.
AVEVA CEO Peter Herweck commented on the acquisition’s influence on the company:
“AVEVA is now excellently positioned, with the involvement not just of Schneider Electric but all its partners, to generate innovation, transformation and value for its customers. The last 50 years for AVEVA have been incredibly exciting.
“Thank you to everyone who has helped us get this far in our goal to become a global leader in industrial software and data. “I’m certain that the best is yet to come if we continue to invest and adapt.”
Philip Aiken, the company’s chairman, also remarked on the transaction, saying:
“It has been a joy to be Chairman of AVEVA over the last decade, as the business has developed to be a global leader in industrial software and the largest listed technology company in the UK. I’d like to thank the Board of Directors, our workers, customers, partners, and investors for their efforts and support, and I wish AVEVA ongoing success as a subsidiary of Schneider Electric.”
