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.

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Source:: Network World – IoT