Schneider Electric Completes Purchase of Invensys for $5.2 Billion
Aug. 1, 2013
Acquisition Allows Schneider to Expand Low- and Medium-Voltage Electrical Equipment and Services
According to recent reports from New York Times and Bloomberg, low- and medium-voltage equipment manufacturer Schneider Electric has agreed to buy Britain's Invensys PLC for $5.2 billion. The purchase will allow Schneider to expand its offerings globally with the addition of Invensys software and control systems.
"The addition of Invensys' businesses will considerably strengthen Schneider Electric's overall offering to its industrial and infrastructure customer base, reinforcing us as a global leader in energy management solutions integrating power and automation, as well as leading software for customer efficiency," said Jean-Pascal Tricoire, chairman and CEO for Schneider. "The transaction will allow Schneider Electric to benefit from increased scale and realize substantial synergy benefits from the combination."
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