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Schneider Electric completes acquisition of Aveva

Aveva’s software drives efficiency and reduces costs for over 20,000 customers worldwide, offering a digital twin for the whole asset lifecycle from engineering to operations

by Gulf Business

January 19, 2023

Schneider Electric, an industrial company specialising in digital automation and energy management, has completed the acquisition of Aveva, an industrial software firm.

Since its foundation, Aveva has grown from a niche design software developer to a global industrial software leader with a market value of $10bn. Today, the company’s software drives efficiency and reduces costs for over 20,000 customers worldwide. It offers a digital twin for the whole asset lifecycle from engineering through to operations and maintenance across diverse industries worldwide.

While Aveva will now be wholly owned and part of Schneider Electric, intentions have been laid out to maintain its business autonomy, future R&D investment, and enhancing customer benefits and meeting their needs faster with a stronger portfolio of solutions .

“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, 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.”

Read: Here’s how Aveva is unlocking the value of industrial data