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Schneider Electric: completes acquisition of Aveva

( - Aveva has announced the completion of its acquisition by Schneider Electric, the French energy management and automation group, which now fully owns the British industrial software company.

The acquisition will enable Aveva to accelerate its transition to becoming the leading provider of SaaS (software as a service) and industrial data by moving its business model to an exclusively subscription-based model.

Aveva will maintain its business autonomy and future R&D investments, potential customer benefits will be enhanced, and a faster response to customer needs will be provided, the company said.

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