AVEVA confirms completion of its acquisition by Schneider Electric

AVEVA, a global leader in industrial software, has completed its acquisition by Schneider Electric, a leading global industrial company specialising 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. The 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.

Peter Herweck, CEO of AVEVA, said: “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.”

Since its foundation, AVEVA has grown from a niche design software developer to a leading global industrial software company with a value of more than £10bn.

Philip Aiken, Chairman of AVEVA, said: “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.”