Schneider Electric Buys Energy, Automation Companies

June 10, 2011
France-based, Schneider Electric SA, agrees to buy China-based Leader Harvest Power Technologies Holdings Ltd. and Televant, a Spain-based IT solutions provider.  
After a look at Tyco and the American market this Spring, Schneider Electric SA (www.schneider-electric.us) turns it attention to China's Leader Harvest Power Technologies and agrees to purchase the company for $650 million U.S., subject to certain adjustments and regulatory approvals. The deal was announced on June 9. Leader Harvest Power Technologies manufactures medium voltage (MV) speed drives, ranging from 2 kV to 11 kV, and applications include mining, minerals and metals, water and wastewater. The company employs more than 750 people.  Schneider is a leading player in China with low voltage drives and this purchase could give it a 40 percent share of the MV market, the company says. Clemens Blum, executive vp of Schneider Electric's Industry business, says, "Medium voltage drives provide us with the opportunity to increase our penetration in a number of countries, especially in the new economies."

Don't stop there

Separately, on May 30, Schneider Electric SA signed a definitive agreement to purchase Telvent (www.telvent.com) for, approximately, $2 billion U.S. Telvent produces real-time information management software and IT solutions for the oil and gas, agriculture, transportation and smart grid industries. Schneider's CEO, Jean-Pascal Tricoire says, "The Telvent deal reinforces [Schneider’s] positions in three key infrastructure markets: smart grid, efficient infrastructures and smart cities. The energy sector has seen many acquisitions in the past year. Last June, ABB acquired Ventyx Inc. (www.ventyx.com) and Insert Key Solutions (IKS www.insertkey.com), Siemens announced many smart grid projects and GE acquired Opal Software in October 2010 and Remote Energy Monitoring earlier this year. Gary Mintchell, Automation World Editor in Chief, has noticed a shift in the vendor’s focus. In a recent blog post he said, "When I stopped at the Schneider Electric booth in Hannover (Fair), I asked about automation. ‘It's over there in the corner,’ I was told. ‘People are most interested in energy these days.’" Schneider Electric SA www.schneider-electric.us Leader Harvest Power TechnologiesTelvent www.telvent.com Ventyx Inc. www.ventyx.comInsert Key Solutions (IKS) www.insertkey.com

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