Completion of the combination between Schneider Electric and AVEVA
Published: Friday, March 9, 2018
Schneider Electric, the leader in the digital transformation of Energy Management and Automation, announced the completion of the combination 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 optimisation. 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 Emmanuel Babeau additionally assuming the role of Vice Chairman.
