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Schneider bids for Telvent for US$2 Billion

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

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