Results of Court Meeting and General Meeting
We are pleased to announce that on 25 November 2022 shareholders approved the proposed acquisition of AVEVA Group plc by Ascot Acquisition Holdings Limited, an indirect subsidiary of Schneider Electric. The full results announcement can be found here.
Commenting on the outcome of the vote, Peter Herweck, CEO of AVEVA, said:
“For our customers, we will continue to deliver world-class products and services. This transaction will help us to accelerate our customers’ digital transformation and their journey to efficiency and sustainability.
“We will remain an autonomous business, operating under the AVEVA name and brand. With increased investment in R&D, it will allow us to build our neutral and agnostic data platform in the cloud faster, and help our customers materialize the value of their data with our software solutions more seamlessly.”
The transaction requires regulatory approvals. AVEVA and Schneider Electric expect these to be completed in the first three months of 2023.
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