Schneider Electric, a French electrical equipment group, completed the acquisition of RIB Software, a German software developer, for $1.5bn. "We are pleased to have found in Schneider Electric a strategic partner who shares our vision to revolutionize the global construction industry and to create a carbon-free and sustainable living space for our children and grandchildren. Schneider is the global leader in digital transformation of energy management and automation, enabling efficiency and sustainability for its customers," Tom Wolf, RIB Software Chairman and CEO.