AVEVA, a global industrial software provider said it has been wholly acquired by Schneider Electric, an industrial company with a valuation of $12.3 billion (£10bn).
The acquisition gives AVEVA and Schneider Electric a holistic approach to digital transformation across a customer’s operations. This will drive improvements through a reduction in energy carbon and resource intensity, accelerating customer journeys of efficiency and sustainability.
AVEVA’s software drives efficiency and reduces costs for over 20,000 customers worldwide, offering digital twin for the whole asset lifecycle from engineering through to operations and maintenance across diverse industries worldwide.
“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.”
The global industrial sector increasingly relies on data to maximize business value. But like other materials, this key industrial resource only becomes useful when it is extracted, processed, and delivered to the right people at the right time – securely and in context.
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Customers persistently identify the clear need for digital solutions across both industrial operations and energy management, needs that have never been more relevant in the current economic and energy cost environment.
The acquisition makes AVEVA a part of Schneider Electric, however, the company will retain its business autonomy, and future research and development, enhancing the potential benefits for customers and meeting their needs faster with a stronger portfolio of solutions.
AVEVA has ambitions of becoming the number one SaaS provider of software and industrial information and evolving to a subscription only business model.
“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
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