Announced
Completed
Financials
Tags
Tender Offer
Friendly
Software
United Kingdom
software development
Cross Border
Public
Single Bidder
Majority
Acquisition
Private Equity
Completed
Synopsis
Schneider Electric, a manufacturer of electrical power products, completed the acquisition of the remaining 40% stake in AVEVA, a British software company, from Davidson Kempner, an alternative investment management firm, for £4bn. "By taking 100% ownership of AVEVA, we will be able to grow the business faster by simplifying decision-making, enabling seamless interactions between teams, accelerating our investments in R&D and enabling a more coordinated sales strategy, while respecting the companies' particular strengths, and accelerating the transition to a subscription business model under private ownership," Jean-Pascal Tricoire, Schneider Electric CEO.
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