AVEVA and Schneider Electric merged in a £550m deal.

AVEVA, a British multinational information technology company, and Schneider Electric, a leading industrial software provider, merged in a £550m deal. Commenting on the Combination, Philip Aiken, Chairman of AVEVA said: “We are delighted to have reached agreement on the Combination with the Schneider Electric Software Business. The transaction will be transformational to AVEVA, creating a global leader in industrial software, which will be able to better compete on a global scale. AVEVA will significantly expand its scale and product portfolio, increase its capabilities in the owner operator market, diversify its end user markets and increase its geographic exposure to the North American market, in line with our strategic goals."