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Schneider Electric buying Spain’s Telvent
French energy management company Schneider Electric is moving to buy Spain’s Telvent for 1.4 billion euros.
Telvent makes information technology systems for so called smart grids in the electricity industry, as well as for transport, and oil-and-gas companies.
The deal represents a way for Schneider to boost its presence in software to complement its equipment sales.
It also fits with Schneider’s strategy of making small-to-medium acquisitions to bolster its existing businesses and expand into emerging markets, such as India and Russia.
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