Schneider Electric plans to acquire software and AI companies with expected synergies

In the merged company, annual costs are expected to be 250 million euros lower from the third year onwards, and Schneider hopes to achieve 800 million euros in synergies in terms of sales. The Financial Times and the Bloomberg news agency had previously reported on an impending deal.

With the agreed purchase price, Schneider adds a premium of 42 percent to Friday's closing price ($144.03). Together we will create the industry's most comprehensive software and AI company, said Schneider boss Olivier Blum, according to the announcement.

The transaction is expected to close by the third quarter of 2027. Schneider is also bringing forward his presentation of the figures for the past quarter to October 16th.

Like rival Siemens, Schneider is strongly represented in the automation of industrial plants and has been buying for some time, particularly at the interface between software and hardware. Most recently, Schneider agreed to purchase the Bulgarian SDax company Shelly Group for 1.2 billion euros. Shelly primarily produces connected devices for home automation.