French firm agrees to a deal for Invensys

Aug 01, 2013

France's Schneider Electric is to buy industrial software firm Invensys for a 3.4 billion pound ($5.2 billion).

Schneider, which has 140,000 employees, has signaled plans to offload non-core divisions within Invensys, which develops technology for and other sectors. Invensys has 1,100 employees in Britain and the United States.

The deal must still be approved by shareholders.

Invensys chair Nigel Rudd says there was a "strong strategic fit" between the two companies. Jean-Pascal Tricoire, chairman and chief executive of Schneider said the combined business will provide new and larger growth opportunities for employees and customers.

Explore further: Nigeria launches national identity card scheme

not rated yet
add to favorites email to friend print save as pdf

Related Stories

EU OKs $2.7bn Siemens takeover of UK rail firm

Apr 18, 2013

The European Union's antitrust body has cleared a 1.74 billion pound ($2.7 billion) takeover of a British rail technology company by German industrial conglomerate Siemens.

SAP to buy Ariba for $4.5B, extending cloud push

May 22, 2012

(AP) -- Business software maker SAP AG on Tuesday said it will buy Ariba Inc., which makes Web-based software that connects suppliers and buyers online, for about $4.51 billion.

AT&T to buy carrier Leap Wireless (Update)

Jul 12, 2013

AT&T announced plans Friday to buy mobile carrier Leap Wireless in a deal worth at least $4 billion, giving the telecom giant more spectrum and the Cricket prepaid phone franchise.

'Multiple parties' interested in Yahoo!: memo

Sep 24, 2011

Yahoo! is fielding inquiries from "multiple parties" who have expressed an interest in the struggling Internet company, officials said Friday in a memo sent to employees and obtained by AFP.

Taiwan's Hon Hai set to spin off units

Jun 26, 2013

Taiwan's Hon Hai Precision said Wednesday it plans to spin off some units as its founder unveiled measures to battle global sluggishness and falling share prices.

Recommended for you

Nigeria launches national identity card scheme

12 hours ago

Nigeria's President Goodluck Jonathan on Thursday launched a national electronic identity card scheme, which backers said would boost access to financial and government services in Africa's most populous nation.

Vivendi, Telefonica in talks over Brazil business (Update)

23 hours ago

French media conglomerate Vivendi said Thursday it would begin exclusive talks with Spanish telecoms company Telefonica for the sale of its Brazilian operator Global Village Telecom, or GVT, after the Spanish company raised ...

User comments : 0