Mumbai: Digital automation and energy management specialist Schneider Electric completes the £11.6 billion worth acquisition of AVEVA. The UK-based global industrial software player AVEVA today announced the completion of its acquisition by Schneider Electric.
Since its inception in 1967 at the University of Cambridge, AVEVA has grown from a niche design software developer to a leading global industrial software company with a value of more than £10 billion and over 20,000 customers globally. It offers a digital twin for the whole asset lifecycle from engineering through to operations and maintenance across diverse industries worldwide.
With the acquisition done, AVEVA has now become wholly owned and part of Schneider Electric. However, AVEVA is mostly likely to have its business autonomy and continue its future R&D investment, in expanding its portfolio of solutions.
Schneider Electric and AVEVA together, enable a holistic approach to digital transformation across a customer’s operations. And both companies drive step-change improvements through a reduction in energy, carbon and resource intensity, accelerating customer journeys of efficiency and sustainability.
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 will accelerate that transition.
“The needs of the industrial world are becoming ever more complex. But the opportunities to create competitive advantage, value and sustainability through digital transformation have never been more compelling, “ said Peter Herweck, CEO of AVEVA.
“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,” added Herwek.
“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,” said Philip Aiken, Chairman of AVEVA.