RUEIL-MALMAISON, France — Schneider Electric announced the completion of the merger between AVEVA and the Schneider Electric industrial software business.
The combination creates a global leader in engineering and industrial software with scale and relevance in key markets as well as an unmatched set of solutions covering all aspects of digital asset management from process simulation to design, construction and manufacturing operations management and optimization. It will enhance the value proposition of Schneider Electric’s Industrial IOT platform (EcoStruxure) for industrial & infrastructure customers.
Following the closing of this transaction as per the terms set in the AVEVA prospectus, Schneider Electric owns 60 percent of AVEVA Group on a fully diluted basis. Emmanuel Babeau, Deputy Chief Executive Officer and Chief Financial Officer, and Peter Herweck, Executive Vice President – Industrial Automation of Schneider Electric have been appointed as Non-Executive directors of AVEVA Group, with Babeau additionally assuming the role of Vice Chairman.
AVEVA will be fully consolidated in Schneider Electric accounts within the Industrial Automation division, with a full-year operational margin accretive to the Group. More information on the merger can be found here.Tagged with AVEVA, merger, Schneider Electric