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IN BRIEF: Aveva sells three software businesses to Schneider Electric

Wed, 12th May 2021 09:14

Aveva Group PLC - Cambridge, England-based engineering and industrial software firm - Sells Acquis Software, Termis Software, and Water Loss Management Software businesses to Schneider Electric SE for a total of GBP2.6 million. The deal is expected to be completed around July. Paris-based Schneider has a 60.2% stake in Aveva following the merger of their software businesses back in 2018, so the acquisition of the three businesses is considered a related-party transaction, Aveva notes.

Current stock price: 3,156.00 pence, down 0.3% on Wednesday

Year-to-date change: down 1.4%

By Tom Waite; thomaslwaite@alliancenews.com

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