Subscribe and listen to AW’s podcast!
Subscribe and listen to the Automation World Gets Your Questions Answered podcast!
Listen Here

Schneider Electric To Acquire Citect

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.

How use of robotic technology is sweeping across all industries
We asked nearly 60 industrial end-users and system integrators about their use of robotic technology. This report details the trends they identified and how to compare different types of robots.
Download Now
How use of robotic technology is sweeping across all industries
Discover New Content
Access Automation World's free educational content library!
Unlock Learning Here
Discover New Content