September 5, 2017 – Schneider Electric SE announced today that its Board of directors and AVEVA Group plc Board have reached agreement on the terms and conditions of a combination of AVEVA and Schneider Electric industrial software business to create a global leader in engineering and industrial software.
Commenting on the Combination, Jean-Pascal Tricoire, Chairman and CEO of Schneider Electric said “We are pleased to reach an agreement on the combination of AVEVA and the Schneider Electric Industrial Software Business, thereby creating a global leader in engineering and industrial software. The Combination will address customers’ requirements along the full asset life cycle in key industrial and infrastructure market through a unique portfolio of asset management solutions from design & build to operations. It will also create the right environment and structure for the software teams to aggressively develop their business, while benefiting from Schneider Electric’s multiple go-to-market channels and segment expertise around the world, as well as the EcoStruxure platform and its ecosystem of partners. We believe that through increased scale and complementary footprint, the transaction will generate synergies that will benefit customers and shareholders alike.”.
Ravi Gopinath, Executive Vice President, Software, Industry Business for Schneider Electric, explains the positive impact this combination has for Schneider Electric Software clients. Read his letter here