Under the Radar: AVEVA on acquisition by Schneider Electric, new “CONNECT” industrial intelligence platform, opportunities in Southeast Asia

Money Matters with Hongbin Jeong and Chua Tian Tian

It is all about helping enterprises extract value through digital transformation as we speak to a company said to be a global leader in the industrial software space.

With over 6,400 employees, 5,000 partners and 5,700 certified developers, our guest is Cambridge headquartered software development firm AVEVA. The firm prides itself on sparking ingenuity to drive the responsible use of the world’s resources.

Its industrial cloud platform and applications are said to assist businesses in harnessing the power of information, and better collaborate with stakeholders such as customers, suppliers and partners.

These include providing clients with a Digital Twin for the whole asset lifecycle from Engineering through to Operations and Maintenance across diverse industries.

So far, AVEVA serves over 20,000 enterprises across more than 100 countries, helping them deliver life’s essentials such as safe and reliable energy, food, medicines, infrastructure and more. Its valuation – well, above 10 billion British pounds.

But why are we talking to AVEVA you might ask, well, the firm had in January 2023 announced the completion of its acquisition by Schneider Electric.

The move was said to help the firm accelerate its transition into a subscription-only business model and become the number one Software-as-a-Service (or SaaS) provider of software and industrial transformation.

But how far has that played out in terms of R&D investments and support from Schneider Electric?

Meanwhile, AVEVA had in April 2024 unveiled an artificial intelligence powered industrial intelligence platform called CONNECT to form an ecosystem for innovation. But what does that mean in layman terms?

It had also in June 2024 teamed up with IN-CORE Systemes to make Electric Vehicle battery production more efficient. But what can we expect on this front?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Shashank Luthra, Vice President, South East Asia at AVEVA.

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