Aveva has announced the completion of its acquisition by Schneider Electric, the French group specializing in energy management and automation, thus fully owning the British industrial software company.

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

"It is expected that Aveva's commercial autonomy and future R&D investments will be preserved, potential customer benefits enhanced, and a faster response to customer needs provided," it further states.

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