Schneider Electric is tracing its path towards tech and digital. The French giant of electrical solutions announced on Tuesday that it was supporting the project of its British subsidiary Aveva, which wants to buy OSIsoft, a world benchmark in industrial data collection. An operation of 5 billion dollars (4.2 billion euros) which had been in the pipes for a few weeks.
This transaction should enable Aveva, a software specialist 60.2% owned by Schneider Electric, to strengthen internationally and in the cloud sector (remote data storage). OSIsoft, based in California, offers its products in 127 countries and employs 1,400 people. "The acquisition of OSIsoft is perfectly consistent with our strategic vision and will allow us to accelerate the adoption of digital technology by the industrial world," said Craig Hayman, CEO of Aveva. The operation should be completed by the end of the year.
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“This has been a thoughtful purchase for several
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