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Schneider Electric Confirms Talks With Bentley Systems — Update

By Adria Calatayud


Schneider Electric confirmed it is in talks with engineering-software company Bentley Systems about a potential strategic transaction.

The confirmation from the French industrial giant came after The Wall Street Journal reported that Schneider was in talks to take control of Bentley in a deal that could be valued at more than $15 billion.

"Discussions remain at a preliminary stage regarding a potential transaction, and there is no certainty that any transaction will be agreed upon," Schneider said Friday.

Schneider said the talks are part of its continuous exploration of opportunities under its software strategy.

At 0723 GMT, Schneider shares were down 2.5% to EUR209.95.

The companies are holding early-stage talks for a deal in which Schneider would merge its software business with Bentley, which would remain a public company, the Journal reported, citing people familiar with the matter.

A deal would mark a return to public markets of Schneider's software assets. The French company in 2017 agreed to take control of British engineering-software provider Aveva Group, with Schneider folding its software assets into Aveva and making a cash payment in exchange for a 60% stake in the combined entity.

Schneider in September 2022 launched a bid to take full control of Aveva and completed the acquisition in January 2023.


Lauren Thomas and Laura Cooper contributed to this article.


Write to Adria Calatayud at


(END) Dow Jones Newswires

April 19, 2024 03:46 ET (07:46 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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