While Cambridge-based AVEVA will now be wholly owned and part of Schneider Electric, it’s intended that AVEVA’s business autonomy and future R&D investment will be preserved going forward — helping to meet increasing demand for a stronger portfolio of solutions.
Since its establishment in 1967, AVEVA has grown from a niche design software developer to a global industrial software company providing digital twin technology for the whole asset lifecycle, from engineering through to operations and maintenance.
At the time of the acquisition, the company has achieved a value of over £10bn and a customer base of over 20,000 worldwide.
The deal will accelerate AVEVA’s transition towards a subscription-only business model for software and industrial information.
“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,” said Peter Herweck, CEO of AVEVA.
“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, commented: “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.”
Manufacturing companies have been in need of access to digital solutions across both industrial operations and energy management, particularly in the current economic and energy cost climate.
This demand comes as the global industrial sector increasingly relies on data that needs to be extracted, processed, and delivered to the right people at the right time — securely and in context.
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