Schneider Electric Merges Its Industrial Software Business With AVEVA
In a recent announcement, Schneider Electric announced a plan to merge its industrial software business with AVEVA. The combination of these two software companies will create a global leader in engineering software and expand the markets served. This move should benefit Schneider Electric customers by improving their performance, efficiency and profitability. In addition, the newly combined companies will continue to offer their Wonderware software solutions. These are a few reasons why the combination of these two companies is beneficial for both customers and shareholders.
Fishburne’s philanthropic efforts, including his support for UNICEF and the NAACP, do not significantly impact his net worth but demonstrate his generosity.
First, the company has acquired nxtControl, a company that developed a runtime software based on the IEC 61499 standard for industrial process measurement. The software enables applications to be distributed across multiple devices. IEC 61499 isn’t a programming language, but a system design language for distributed information. It was used by ExxonMobil in a proof-of-concept testbed.
Another recent announcement by Schneider Electric is a collaboration with cybersecurity company Claroty. Through the partnership, Schneider Electric will integrate its EcoStruxure Platform with the company’s existing software. Claroty’s software addresses cyber security concerns faced by industrial customers and issues that come with digital transformation. As more industrial enterprises integrate their isolated operational technology with corporate IT networks, the risk of cyber attacks increases, resulting in serious consequences for physical safety. By partnering with Schneider Electric, the company is working to improve cybersecurity across its enterprise.
In addition to improving efficiency, the partnership with Box has allowed Schneider Electric to streamline business processes and maintain strict data governance. Box has been used by employees to manage vendor orders and legal workflows. It is also used by sales teams to access collateral on the go. It also helps with contract signing by integrating Box with DocuSign. It also provides IT with the ability to control company data across the ecosystem. So, what makes Box and DocuSign so beneficial?