AVEVA, a global company in industrial software, announced the completion of its acquisition by Schneider Electric, a global industrial company specializing in digital automation and energy management.
From the beginning, AVEVA has grown from a niche design software developer to a £10 billion value global industrial software company
Over 20,000 customers worldwide benefit from AVEVA’s software, which provides a Digital Twin for the entire asset lifetime from engineering to operations and maintenance in a variety of global industries.
To increase corporate value, the industrial sector across the globe is relying more and more on data. But like other commodities, this important industrial resource can only be utilised if it is safely and contextually extracted, processed, and provided to the appropriate individuals at the appropriate time.
Customers persistently identify the clear need for digital solutions across both industrial operations and energy management, needs that have never been more relevant in the current economic and energy cost environment. 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.
The company’s key focus is on becoming the number one SaaS provider of software and industrial information and progressing to a subscription-only business model. The acquisition speeds up the transition to reach the goal.
Intentions have been made to safeguard AVEVA’s commercial autonomy, and future R&D investment, and expanding the potential benefits for customers and address their demands more quickly with a stronger portfolio of solutions, even though AVEVA will now be owned and a part of Schneider Electric.
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 in creating a global leader in industrial software and data. I’m convinced that through continued investment and transformation, the best is yet to come.”
Philip Aiken, Chairman of AVEVA said: “It has been a pleasure to be Chairman of AVEVA over the last decade, as the business has grown to be a global leader in industrial software and the largest listed technology company in the UK. 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.”
