Schneider Electric Explores Acquiring Remaining Stake In Aveva

Author: Anusuya Lahiri | August 24, 2022 12:35pm

Schneider Electric SE (OTC:SBGSY) weighed the complete takeover of U.K.-based software developer Aveva Group Plc (OTC: AVVYY), the Financial Times reports.
The French conglomerate explored scooping the remaining 40% of Aveva that it does not already own. Schneider Electric specializes in digital automation and energy management.
Cambridge-based Aveva warned against the Ukraine war and higher staffing costs hampering its revenue growth and margins for this financial year.
Aveva lately sought to expand its client base outside its traditional strengths in the oil and gas industry.
Schneider has a deadline of September 21 to make an offer for Aveva.
The predictive emission monitoring systems market will likely reach $14.2 billion by 2030, registering a 7.2% CAGR throughout the forecast period (2021–2030).
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Price Action: SBGSY shares traded higher by 0.31% at $25.56 on the last check Wednesday.