Schneider Electric, the world’s biggest maker of low- and medium-voltage equipment, agreed to buy Spain’s Telvent GIT SA for about US $2 billion to double its software development capacity.
Telvent extends Schneider’s move into software and real- time monitors to help manage power grids and other infrastructure efficiently, joining peers like ABB Ltd. After holding preliminary talks with Tyco International Ltd., Schneider Chief Executive Officer Jean-Pascal Tricoire has said in recent weeks he prefers small- and mid-sized targets.
Source: Bloom berg
Get the latest Datacentre industry news
Subscribe now to receive your daily news email with insights, worldwide headlines & much more, and it's FREE.
Sign-up today and receive a free detailed overview of the acclaimed "Western Europe Data Centre Market" Report plus unique 25% discount off the full price.