Schneider Electric will buy the 40% of Aveva shares it does not already own

schneider electric did a few weeks ago firm offer for the 40% it does not yet own of the British company Avevaan offer of 10,700 million dollars that the shareholders who own that 40% of the titles they have acceptedand which will give the French automation company full control over the British provider of engineering and industrial software.

Since 2018, Schneider has been the majority shareholder of Aveva, when it took about 60% of the shares through a reverse merger that made the company’s industrial software division part of Aveva. The new purchase agreement, when closed, will see all of the British company’s shares transferred to Schneider.

What the French company wants to do when it takes control of Aveva is to further integrate Aveva’s digital twin development and deployment capabilities into Schneider’s system-independent data platform. These are used to simulate processes and help with the design and maintenance of complex industrial systems. However, they have assured that they intend to keep the activity of the British company relatively independent.

This means that the Aveva teams will not be merged with those of Schneider Electric and its software will continue to be based on open architectures. In fact, “Schneider Electric intends for Aveva to remain a separate legal group with its own board of directors. Schneider Electric is above all aware of the importance of keeping Aveva’s distinctive software culture moving forward.«.

A key point of the operation of the purchase in 2021 of OSIsoft by Aveva. This was a real-time data hub company for the analysis and monitoring of industrial and business process information. This data hub forms the basis for expanded integration between the companies’ two systems, using a hybrid cloud model to pull information from data centers and operational equipment for use in applications such as analytics and visualization.

At Schneider, therefore, they have taken into account both what Aveva has and what it has gained from OSIsoft, underscoring the agnostic nature of both companies’ core software offerings, which is partly enabled by the OSIsoft platform. If everything goes as planned by the companies, the purchase agreement for the rest of Aveva that was not held by Schneider will be closed throughout 2023.

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