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.
SEE ALSO: Rockwell Automation Paves Way for $16 Billion Takeover
"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."
