Mumbai, India – AVEVA has announced the completion of its acquisition by Schneider Electric. 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.
AVEVA’s strategic focus is on becoming the number one SaaS provider of software and industrial information. Additionally, evolving to a subscription-only business model. The acquisition will accelerate that transition.
Whilst AVEVA will now be wholly owned and part of Schneider Electric. The intentions have been set out to preserve AVEVA’s business autonomy, future R&D investment, and enhancing the potential benefits for customers. Further, meeting their needs faster with a stronger portfolio of solutions.
Schneider Electric and AVEVA together, enable a holistic approach to digital transformation across a customer’s operations. They drive step-change improvements through a reduction in energy, carbon and resource intensity, accelerating customer journeys of efficiency and sustainability.
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.
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. Thank you to all of the stakeholders who have been part of the journey so far. I’m convinced that through continued investment and transformation, the best is yet to come.”
