SU Schneider Electric SE

   By Joshua Kirby 
 

Schneider Electric SE said Monday that it has agreed to buy stakes in two software providers as it looks to boost its offering in the field.

The French energy-management company said it agreed to acquire a controlling stake of 80% in Operation Technology Inc. / ETAP Automation Inc., a U.S. company that provides software for electrical power-systems modeling and simulation. Schneider said the transaction should be completed by the end of the year, and that it also agreed to buy the remaining 20% of ETAP in early 2025. ETAP had revenue of $50 million in 2019, Schneider said.

Schneider will also acquire a minority stake of 25% in Planon Beheer, which provides software for building and workplace management. The Dutch company had revenue of 74 million euros ($87.6 million) in 2019, Schneider said.

The combined effect of the two transactions is expected to be slightly accretive to adjusted earnings per share from 2021, Schneider said.

Write to Joshua Kirby at joshua.kirby@dowjones.com; @joshualeokirby

(END) Dow Jones Newswires

November 16, 2020 03:28 ET (08:28 GMT)

Schneider Electric (EU:SU)
Historical Stock Chart
From Mar 2024 to Apr 2024

Schneider Electric (EU:SU)
Historical Stock Chart
From Apr 2023 to Apr 2024