Schneider Electric completed the acquisition of the remaining 40% stake in AVEVA from Davidson Kempner for £4bn.

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.