Schneider Electric (www.schneider-electric.com), through its main Australian subsidiary, Schneider Electric Australia, has made an unsolicited offer to acquire Sydney, Australia-based Citect (www.citect.com), for a proposed $80 million for all the issued ordinary shares in Citect.
The two companies have entered into a Merger Implementation Agreement that is subject to a number of conditions, including shareholder approval.
David Mortimer, chairman of Citect, commented, “Citect’s ability to serve its customers thoroughly and globally will be considerably enhanced with this new development. The Citect board believes that the strategic fit with Schneider Electric will enable Citect’s customers, employees and partners to participate in a promising future.”
Schneider Electric, headquartered near Paris, is a global supplier of electrical distribution, industrial automation and control products. Citect is a global provider of solutions for supervisory, control and data acquisition SCADA) and Manufacturing Execution Systems (MES). The companies have a previous strategic relationship, which has resulted in the launch of a number of hardware and software solutions, and share some distributors.
Shorten project timelines with these hidden-gem Ignition efficiency tips for designing HMIs, provided by Inductive Automation Sales Engineer Reese Tyson.
Get ready for that “where has this been all my life?” moment—over 25 hidden Ignition features await in our webinar. Our experts show how to boost your productivity and streamline...
Advanced software solutions, like those built in the Ignition platform from Inductive Automation, can provide a crucial means to navigating electrical grid challenges.
Unlock seamless data flow across your manufacturing sites with MQTT and Ignition—turn siloed operations into a connected, data-driven enterprise. Discover how standardization,...
