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Business: UK engineering software firm Aveva is to merge with the software arm of French energy group Schneider Electric, creating a company worth about 3 b Euro.

According to a report the Schneider will take majority stake in Aveva, which will retain its base in Cambridge and stay listed on the Stock Exchange.

 

 

 

Aveva pioneering 3D design grew out of Cambridge University in 1960, which employs 1700 people worldwide.

 

The Schneider has been in the software business for more than 50 years, and has worked with numerous different industries across the world.

 

The new company will cover a wider range of sectors, combining Aveva’s experience in oil and gas and power and Schneider’s reach in the chemicals, food and beverage industries.

 

It will also have a greater global reach, with Schneider’s exposure to North America added to Aveva’s existing markets.

 

Philip Aiken, Aveva chairman, said the deal would create “a global leader in industrial software: while his Schneider counterpart Jean-Pascal Tricoire said it would produce “ the right environment and structure for the software teams to aggressively develop their business.





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