Britain’s Aveva to tie-up with Schneider Electric in software deal

‘Angry Birds’ maker Rovio plans to list its shares
September 5, 2017
Amazon fears sink Blackstone’s $2.8 billion Australian mall sale
September 5, 2017
This post was originally published on this site

LONDON (Reuters) – British engineering software company Aveva Group said on Tuesday it had agreed to combine with Schneider Electric’s software business, creating a London-listed software firm worth more than 3 billion pounds.

France’s Schneider will take a 60 percent stake in the enlarged group under the terms of the deal, which is structured as a reverse takeover.

Details of the deal – the third attempt by the two companies to combine – were reported late on Monday.

Reporting by Paul Sandle; editing by Kate Holton

Our Standards:The Thomson Reuters Trust Principles.