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Schneider Electric Goes Bigger in Industrial Software Via Deal with Britain’s Aveva (Photo by Sean Gallup/Getty Images)

Schneider Electric Goes Bigger in Industrial Software Via Deal with Britain’s Aveva

Note: This deal was later scrapped by Aveva.

Schneider Electric SE, Rueil Malmaison, France, and Aveva Group Plc, Cambridge, UK, announced they’ve agreed to join forces to create a more comprehensive software offering for the industrial market. Under terms of the deal, Aveva will take ownership of certain parts of Schneider’s industrial software product lines and Schneider will buy a controlling stake (53.5%) in the enlarged Aveva for approximately $858 million. The agreement is at this point non-binding and subject to the

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