Top investor may go against £9.5bn Schneider takeover bid for AVEVA acquisition A top AVEVA investor is reportedly planning to go against a £9.5bn takeover offer by Schneider Electric because it represents an “opportunistic bid”. Peter Lampert said the bid, at £31-a-share would undervalue the UK technology group, the Financial Times reported. This comes after numerous major UK firms have been approached by foreign investors, including Ted [...]
French titan Schneider snatches Aveva in £9.5bn deal DONE DEAL French industrial giant Schneider has snatched London-listed software developer Aveva in a £9.5bn deal. Schneider already owns a majority stake in the Cambridge developer as in 2017 it acquired 60 per cent of Aveva for £3bn. The £31 per-share deal, which implies an enterprise value of £10.2bn, was announced today by the companies. The offer [...]
Aveva nears closure on multi-billion-pound Schneider buyout Aveva London listed software developer Aveva is near to closing a deal that would see it fully taken over by French industrial giant Schneider Electric. The two companies are in discussions for Schneider to acquire the roughly 40 per cent stake in Aveva that it does not already own, at a price of £30 a share, [...]
Slow revenue climb for Aveva as the IT firm grapples with higher costs June 8, 2022 Losses widen for Aveva Group as the pandemic demand continues to subside for the software firm.
Software group Aveva’s losses deepen November 10, 2021 British industrial software group Aveva said this morning its operational losses had widened to £73.4m in the first half of the year, more than triple the £20.3m it reported a year earlier. Much of this was down to gradually writing off the costs of its intangible assets, the company said, following the completion of its [...]
Software group Aveva announces revenue growth October 27, 2021 AVEVA, specialists in engineering and industrial software, announces a revenue growth of approximately 9 per cent in the first half of the financial year on a pro forma organic constant currency.
London markets dip as stronger pound limits gains and Amigo sinks May 25, 2021 The FTSE 100 slipped today as a stronger pound weighed on large dollar-earning consumer staples companies. Wall Street followed suit, sliding after the open despite a strong rebound in tech stocks yesterday. London’s blue-chip index dipped 0.2 per cent over the day, with delivery firm Just Eat Takeaway leading the way with a 4.4 per [...]
Software group Aveva shares rise as business bounces back May 25, 2021 Shares in Aveva pushed higher this morning after the software group reported strong growth in the second half following an initial pandemic-induced hit to trading. Aveva, which specialises in industrial software, posted revenue of £820m for the year to the end of March — a decrease of 1.6 per cent but in line with expectations. [...]
Aveva CEO Craig Hayman steps down as revenue turns flat April 27, 2021 British industrial software firm Aveva said on Tuesday its chief executive Craig Hayman had decided to quit. The company announced that Peter Herweck would be seconded from its major shareholder Schneider Electric as his replacement from 1 May. Following the news, shares in Aveva plummeted by 5.6 per cent as markets opened. Schneider Electric holds [...]
Aveva enjoys strong third quarter as OSIsoft deal nears completion January 15, 2021 Aveva has enjoyed a strong third quarter which saw its revenue grow 1.5 per cent in the first nine months ahead of OSIsoft deal closure. The industrial software company also ended the year with no debt and £2.7b in cash. Aveva’s approval from the Committee on Foreign Investment in the United States (CFIUS) for the [...]