Third time may be the charm! Schneider does the Aveva deal– Again!

After failing twice to consummate the deal, Schneider Electric announced on September 5 that they had done the deal– again.

Britain’s Aveva Group said on Tuesday it had agreed to combine with Schneider Electric‘s software business to create a London-listed leader in industrial software worth more than 3 billion pounds ($3.88 billion).

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, the companies said.

The tie-up comes after two abandoned attempts to agree a deal in 2015 and last year.

The agreement will close, hopefully, in December.

It still isn’t clear what the market impact on automation will be. And one wonders what the future for independent or software only companies will be.

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