On June 1, Schneider Electric (News - Alert) acquired Telvent GIT, SA, which provides software for real-time management of smart infrastructure in the electricity, oil and gas, water, and transportation sectors.
Schneider Electric, SA , a global specialist in energy management based near Paris, will pay about $2 billion for the Madrid-based Telvent GIT SA.
In a company statement, Schneider said that the acquisition would “double its overall software development competencies and enhance its IT integration and software service capability, including weather services.”
The acquisition also will give the two companies a more dominant global presence: Schneider Electric can build on Telvent’s strong presence in North America and Latin America. Telvent will be able to enter into Asia-Pacific, the Middle East, and Russia — and to expand its operations in Western Europe.
“Telvent reinforces Schneider Electric’s positions in three key infrastructure markets: smart grid, efficient infrastructures, and smart cities,” Schneider CEO Jean-Pascal Tricoire said on a conference call with analysts.
Specifically, the purchase will provide Schneider with the following new capabilities:
· Smart Grid: Schneider Electric will be able to offer electrical utility customers complete substation automation and a smart grid software suite: DMS (Distribution Management System), OMS (Outage Management System), SCADA (Supervisory Control and Data Acquisition), MDM (Meter Data Management), and GIS (Geographical Information System).
· Efficient infrastructures: For water and oil and gas operators, Schneider will provide a leading information management solution to monitor and optimize their networks.
· Transportation: For large transportation operators, Telvent provides intelligent transport systems and services to improve efficiency of existing infrastructure, facilitate mobility of people, and reduce pollution.
“Together, we will be able to provide our customers with high value added solutions that integrate smart devices and full software capability, hence reinforcing our position in the smart grid and critical infrastructure space. We look forward to welcoming the Telvent teams who will enrich the cultural diversity and capability of our company, “ Schneider’s Tricoire commented.
Ignacio González Domínguez, Telvent’s chairman and CEO said, “We believe that our customers will benefit highly from this combination. With Schneider Electric, Telvent expects to expand its global footprint, especially in the fast growing new economies. We look forward to this next phase of the development of our company.”
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Cheryl Kaften is an accomplished communicator who has written for consumer and corporate audiences. She has worked extensively for MasterCard (News - Alert) Worldwide, Philip Morris USA (Altria), and KPMG, and has consulted for Estee Lauder and the Philadelphia Inquirer Newspapers. To read more of her articles, please visit her columnist page.
Edited by Jennifer Russell