‘Digital twin’ companies to merge

Two companies that provide industrial software for companies digitalising their engineering and operations are planning to combine. Schneider Electric took a majority stake in Aveva in 2018 and has made an agreed offer to acquire the remaining shares.
The two companies’ digitalisation offerings include ‘digital twin’ options that are increasingly being used by energy networks to manage their systems more efficiently.
Schneider says companies can combine their facilities’ industrial and energy digital twins, using Aveva’s open and agnostic data platform. That allows customers to integrate all their data (assets, operations, energy and carbon) into one contextualised, industry-optimised data hub. This data hub allows customers to integrate controls and software of all origins, to develop their own applications or run their own artificial intelligence. Schneider says that will allow customers to converge their enterprise data, across process, power and build, and provide contextualised data-driven insights across the lifecycle of their assets.