Skip to content

Digital-twin tech at crux of Schneider Electric’s $10.7B deal for Aveva

Digital-twin technology is playing an important role in the plan by French industrial automation company Schneider Electric to fully take over UK industrial and engineering software vendor Aveva, in a $10.7 billion deal announced Wednesday.

Schneider has been a majority shareholder of Aveva since 2018, when it bought roughly 60% of the company’s shares through a reverse merger that made Schneider’s industrial software business a part of the UK firm. The new acquisition deal, when it closes, would see all shares of the British company transferred to Schneider.

To read this article in full, please click here

Source:: Network World – IoT