By joining forces, Schneider Electric and AVEVA are dedicated to providing a comprehensive digital transformation across industrial operations while reducing energy consumption, carbon emissions, as well as resource wastage.
With the acquisition of AVEVA, Cambridge-based Schneider Electric will now own and manage it wholly. Despite this change in ownership, R&D investments in order to meet customer demands for a more comprehensive portfolio of solutions are to be sustained while preserving its business autonomy.
For over fifty years, AVEVA has gone from a small design software firm to a worldwide industrial software provider that offers digital twin technology for the entire asset lifespan – from engineering all the way through maintenance.
When the acquisition took place, the company had grown to a remarkable value surpassing £10bn and acquired more than 20,000 international customers. By finalizing this agreement, AVEVA will be able to accelerate the transition from traditional software and industrial information sales towards an exclusive subscription-only model.
Peter Herweck, CEO of AVEVA, expressed his thoughts saying-
“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, the 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.”
In the current economic and energy cost environment, manufacturing companies are desperate for access to digital solutions that can help them with industrial operations and energy management.
The need for data extraction, processing and secure delivery to the correct personnel at the appropriate time – in context – is intensifying as global industrial sectors rely more heavily on these processes.
The combined knowledge and expertise of Schneider Electric and AVEVA will provide enhanced digital solutions to help businesses optimise their operations and energy management, in turn creating a safer work environment for its employees.
With the power of this combination, Schneider Electric is now well-positioned as a leader in software and digital transformation while helping its customers to stay competitive by leveraging digital solutions.
Shivendra Tiwari is an Engineer and an MBA in Marketing. He is the Content head at Marketing91 and a thorough Online Marketing enthusiast. Shivendra loves to follow different brands and study their Business and Marketing tactics.