I had one surprise acquisition announcement today. This one is hardly a surprise as it has been underway for some time. Aveva today (Jan. 18, 2023) announced the completion of its acquisition by Schneider Electric.
Here are the essential points from the announcement. No word from either party about leadership or how this fits within the organizational structure. AVEVA CEO Peter Herwick led the software group within Schneider Electric before merging that group with AVEVA. I think he did his job there.
• 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.
• AVEVA’s strategic focus is on becoming the number one SaaS provider of software and industrial information. The company continues to evolve to a subscription-only business model and the acquisition will accelerate that transition.
• AVEVA will now be wholly owned and part of Schneider Electric, but intentions have been set out to preserve AVEVA’s business autonomy, future R&D investment, and enhancing the potential benefits for customers and meeting their needs faster with a stronger portfolio of solutions.