Schneider Electric Explores Acquiring Remaining Stake In Aveva

  • Schneider Electric SE SBGSY weighed the complete takeover of U.K.-based software developer Aveva Group Plc AVVYYthe Financial Times reports.
  • The French conglomerate explored scooping the remaining 40% of Aveva that it does not already own. Schneider Electric specializes in digital automation and energy management.
  • Cambridge-based Aveva warned against the Ukraine war and higher staffing costs hampering its revenue growth and margins for this financial year. 
  • Aveva lately sought to expand its client base outside its traditional strengths in the oil and gas industry. 
  • Schneider has a deadline of September 21 to make an offer for Aveva.
  • The predictive emission monitoring systems market will likely reach $14.2 billion by 2030, registering a 7.2% CAGR throughout the forecast period (2021–2030).
  • The growing use of PEMSs in gas turbines to predict emission levels based on fuel composition and ambient & machine operating conditions while considering real-time degradations boosts the market size.
  • Price Action: SBGSY shares traded higher by 0.31% at $25.56 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: M&ANewsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!