Here we go again: AVEVA + Schneider
While many of us Yanks were off celebrating the unofficial end of summer, the British and French were apparently hard at work. The Financial Times and other media report that AVEVA and Schneider Electric are about to announce yet another attempt at a merger –they’ve done this at least twice before– in a complex transaction that involves cash, assets and people.
According to the FT, AVEVA will acquire Schneider Electric’s software business in exchange for stock in the new, larger AVEVA and it seems that over £500 million in cash might also change hands in the deal.
The FT, UK’s Sky News and other UK media outlets are saying that the deal might be made official as early as tomorrow. Stay tuned!