Shutterstock 2057031185
Shutterstock 2057031185
Shutterstock 2057031185
Shutterstock 2057031185
Shutterstock 2057031185

Schneider Electric completes acquisition of Aveva

Jan. 25, 2023
Aveva is now wholly owned and part of Schneider Electric.

Schneider Electric completed its acquisition of Aveva, a provider of industrial software. While Aveva is now wholly owned and part of Schneider Electric, intentions have been set out to preserve Aveva’s business autonomy and future research-and-development investment.

“Aveva is now optimally placed, with the collaboration not just of Schneider Electric but all its partners, to drive innovation, change and value for its customers," said Peter Herweck, CEO of Aveva, who mentioned how exciting the past 50 years have been for Aveva.

“It has been a pleasure to be chairman of Aveva over the last decade," added Philip Aiken, who's been instrumental in growing the business to become the largest listed technology company in the United Kingdom. Aiken thanked the board of directors, employees, customers, partners and investors for their contributions and support, and he wished Aveva continued success as part of Schneider Electric.

 The relationship between Aveva and Schneider Electric dates back several years now. Control Design reported the initial agreement to a combination of selected Schneider Electric industrial software assets and Aveva in August 2015.

In September 2022, the companies reached an agreement for Schneider to acquire full ownership of Aveva, and that deal was finalized this month.

Aveva addressed the acquisition at Aveva World 2022 in San Francisco. AutomationWorld’s David Greenfield reported that Aveva executives say the company will continue to work toward broad-based integration as a means to achieve its stated goal of bringing its technologies together into one software for engineering and operations.

Among its plans to achieve that goal is a 2023 HMI/SCADA release, which will integrate the Aveva Historian and PI systems into the cloud-based Aveva Data Hub, Rob McGreevy, chief product officer at Aveva, told AutomationWorld.