After two attempts over the past few years to acquire UK-based software provider Aveva Group plc failed to take, Schneider Electric SE, Rueil Malmaison, France, said it has an agreement with Aveva’s board to combine Aveva with Schneider Electric’s industrial software business to create a new global player in engineering and industrial software. If approved by shareholders, Schneider will own 60% of the new venture and Aveva shareholders will hold 40%.
The combined entity w
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