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Schneider Electric to acquire SolveIT Software

SolveIT Software is to be bought by Schneider Electric.

03 September 2012

Schneider Electric has agreed to acquire SolveIT Software, with merger and acquisition consultants potentially helping the tie-up run smoothly.

The deal will see Schneider - an energy management specialist with a global reach - join up with SolveIT, which provides predictive modelling scientific software, as well as tools for supply and demand chain optimisation.

When combined, the firms should be able to help clients to boost their profitability by allowing them to use their existing assets to deliver more than they previously could.

SolveIT has five offices in Australia and more than 150 offices, with its clients including Incitec Pivot, Rio Tinto Iron Ore, ElectraNet and BHP Iron Ore.

Schneider has operations in at least 100 countries and has more than 130,000 employees, who focus on sectors including residential, utilities, industries and data centres.

"We are confident that our enriched portfolio will open up new opportunities and allow us to tap new markets," president and chief executive officer of Schneider Electric Jean-Pascal Tricoire recently said.

Posted by Edel Quinn

Source: SolveIT Software press release, September 2nd

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