Schneider Electric agrees to purchase Invensys

The Invensys acquisition would extend Schneider's automation products for the automotive, aerospace, and food and beverage industries with Invensys automation software and hardware for power stations, oil refineries and chemical plants. By adding Invensys hardware and software offerings for the process industries, Schneider becomes better positioned to compete globally with other large automation players such as ABB and Siemens.

However, since the deal will not be completed until the end of 2013, it will be well into 2014 before more details emerge. The only intent being made official in these early stages is that Invensys' appliance unit, which manufacturers controls for washing machines, could be sold, according to a report by Reuters quoting Schneider chief financial officer, Emmanuel Babeau.