Schneider Electric to Acquire IGE + XAO for EUR188.4 Million

Posted by Schneider Electric on November 8th, 2017

France's Schneider Electric SE (SU.FR) on Wednesday said that it had signed a memorandum of understanding to buy software developer IGE + XAO SA (IGE.FR) in a deal valued at around 188.4 million euros (8.3 million).

Schneider's subsidiary Schneider Electric Industries SAS will file a tender offer Wednesday for IGE + XAO to the French market regulator, the company said in a press release.

The deal is contingent upon Schneider holding at least two thirds of IGE + XAO's share capital by the end of the offer period. The proposed acquisition price of EUR132 a share represents a 15% premium to IGE + XAO's last closing price on Nov. 7, Schneider said.

IGE + XAO produces design and simulation software for electrical installations and reported consolidated revenue of EUR29.4 million and an operational margin of 27% in its last fiscal year, Schneider said.

The deal is the latest in a string of acquisitions by Schneider as the electrical-equipment manufacturer seeks to pivot towards writing the software that drives its products.

About Schneider Electric

Schneider Electric is the global specialist in energy management and automation. With revenues of ~€25 billion in FY2016, our 144,000 employees serve customers in over 100 countries, helping them to manage their energy and process in ways that are safe, reliable, efficient and sustainable. From the simplest of switches to complex operational systems, our technology, software and services improve the way our customers manage and automate their operations. Our connected technologies reshape industries, transform cities and enrich lives. At Schneider Electric, we call this *Life Is On*. Schneider Electric is the worldwide expert in energy administration and automation. With incomes of ~€25 billion in FY2016, our 144,000 representatives serve clients in more than 100 nations, Schneider Electric helping them to deal with their energy and process in ways that are protected, dependable, productive and practical. From the least difficult of changes to complex operational frameworks, Schneider Electric innovation, programming and administrations enhance the way our clients oversee and computerize their operations. Schneider Electric associated advancements reshape businesses, change urban communities and advance lives. At Schneider Electric, we call this Life Is On. Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency. We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.