AVEVA announced the completion of its acquisition by Schneider Electric, a leading global industrial company specializing in digital automation and energy management.
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, they claim, adding that this acquisition will accelerate that transition. While AVEVA will now be wholly owned and part of Schneider Electric, intentions have been set out to preserve AVEVA’s business autonomy, future R&D investment, and enhancing the potential benefits for customers and meeting their needs faster with a stronger portfolio of solutions.
“The needs of the industrial world are becoming ever more complex,” said Peter Herweck, CEO of AVEVA. “But the opportunities to create competitive advantage, value and sustainability through digital transformation have never been more compelling. 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.”
AVEVA Chairman Philip Aiken added, “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.”
