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UK/France: Strategic engineering, power merger inked for $5B

By  |  July 31, 2013

UK-based software engineering conglomerate Invensys announced unanimous approval by its board of directors to be taken over by France-based Schneider Electric in a deal valued at about $5.16 billion. Reports say Schneider’s move is part of a larger effort to strengthen its position within the software provision sector; Invensys specializes in software that runs power stations and chemical plants and, say reports, is often eyed for takeover in the industry. The deal remains subject to shareholder approval.

Full Content: The Telegraph

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