Schneider Electric Takes Control of U.K. Software Firm Aveva

Mony
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French industrial group Schneider Electric SE has agreed to take control of British engineering software provider Aveva Group PLC, expanding the global reach of the technology offerings of the two operators.

Under the deal, announced in a joint statement Tuesday, Schneider will fold its software assets into Aveva’s operations and pay the U.K. company more than £550 million ($710.4 million) in exchange for a 60% stake in the combined…

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