Aveva

Last updated

AVEVA Group plc
Company type Subsidiary
LSE:  AVV (1996–2023)
IndustryInformation Technology
Technology consulting
CAD/CAM Software
Enterprise Asset Management
Manufacturing Execution System
Enterprise Solutions
Founded1967;57 years ago (1967) in Cambridge, UK
Headquarters Cambridge, England, UK
Area served
Worldwide
Key people
  • Peter Herweck(chair­person)  OOjs UI icon edit-ltr-progressive.svg
  • Caspar Herzberg(CEO)  OOjs UI icon edit-ltr-progressive.svg
RevenueIncrease2.svg £1,185.3 million (2022) [1]
Decrease2.svg £(6.5) million (2022) [1]
Decrease2.svg £(62.6) million (2022) [1]
Total assets Increase2.svg £6,670.5 million (2022) [1]
Total equity Increase2.svg £5,209.2 million (2022) [1]
Number of employees
6,500 (2022) [1]
Parent Schneider Electric (2023–present)
Website aveva.com

AVEVA Group plc is a British multinational information technology consulting company headquartered in Cambridge, England. The company started as the Computer-Aided Design Centre (or CADCentre) which was created in Cambridge in 1967 by the UK Ministry of Technology and Cambridge University. [2]

Contents

It was listed on the London Stock Exchange until it was acquired by Schneider Electric on 18 January 2023. [3]

History

Early history

The origins of AVEVA start in 1967 in Cambridge, England, with the establishment of the CADCentre, as it was more commonly referred to, and later formally became. It was a government-funded research institute created by the UK Ministry of Technology, with a mission to develop computer-aided design techniques and promote their take-up by British industry. Its first director was Arthur Llewelyn, who initially contracted out the recruitment and management of specialist staff to ICL. [4]

The centre carried out CAD research, and some of its early staff members, such as brothers Dick Newell and Martin Newell, went on to become well known in the worldwide CAD community. Dick Newell oversaw the creation of the Plant Design Management System (PDMS) for the 3D process plant design. He later co-founded two software companies – Cambridge Interactive Systems (CIS) which was known for its Medusa 2D/3D CAD system, and Smallworld with its eponymous Smallworld GIS (Geographical Information System). Martin Newell later went to the University of Utah where he did pioneering 3D solid modelling work; he was also one of the progenitors of PostScript. [5]

CADCentre became a private company in 1983, was the subject of a management buyout [6] in 1994 under the leadership of its first managing director, Dr. Bob Bishop, and became a publicly quoted company in 1996. [7] It changed its name to AVEVA in 2001. [8]

Acquisitions

Schneider Electric's industrial software business combines with AVEVA

On 1 March 2018, AVEVA agreed to merge with France-based Schneider Electric's industrial software business in a multi-step reverse takeover. [28] Schneider Electric became the largest shareholder with a 60% ownership interest. [29]

On 21 September 2022, Schneider agreed to a full takeover of AVEVA by paying about £3.87 billion (US$4.4 billion) for the remaining equity, valuing the whole of AVEVA at around £9.48 billion (US$10.8 billion). [30] [31] The company confirmed that the final day of trading in its shares prior to completion of the takeover would be 17 January 2023. On January 18, Schneider completed the acquisition of AVEVA. [32]

Stadium

In 2019 in Houston, Texas, a new stadium bearing the company's name was inaugurated and became home of the professional rugby team the Houston SaberCats. [33]

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References

  1. 1 2 3 4 5 6 "2022 Full Year Results" (PDF). Aveva. Retrieved 8 June 2022.
  2. ↑ Shah, Jami J.; Mäntylä, Martti (1995). Parametric and Feature-Based CAD/CAM: Concepts, Techniques, and Applications. Wiley. ISBN   978-0-471-00214-7.
  3. ↑ "AVEVA announces the completion of its acquisition by Schneider Electric". Aveva. Retrieved 14 July 2023.
  4. ↑ "Design disciplines". New Scientist. 25 November 1976. Retrieved 15 April 2017.
  5. ↑ Petersen, J.K. (2002). The Telecommunications Illustrated Dictionary. CRC Press. p. 526. ISBN   9781420040678.
  6. ↑ "AVEVA – 3D with a difference | Cambridge-news.co.uk". Cambridge-news.co.uk . Retrieved 24 October 2011.
  7. ↑ "Aveva boss Richard Longdon on technology challenges". The Times. 7 June 2010.
  8. ↑ "Cadcentre broadens out as Aveva". Citywire. 23 May 2001. Retrieved 25 July 2018.
  9. ↑ "Aveva buys Tribon for £19m". Citywire. 21 April 2004. Retrieved 6 April 2012.
  10. ↑ "Shipbuilding Software FPSO yards switching to Tribon for newbuild/conversion support". Offshore Magazine. 1 July 1995. Retrieved 3 August 2020.
  11. ↑ "Viva Aveva!". Citywire. 18 May 2005. Retrieved 6 April 2012.
  12. ↑ "Aveva acquires IDO software from iDesignoffice". The Engineer. 31 March 2009. Archived from the original on 5 May 2013. Retrieved 6 April 2012.
  13. 1 2 "AVEVA Acquires Logimatic's MARS Business and Oil and Gas Business of ADB Systemer AS". Desktop Engineering. 7 June 2010. Archived from the original on 25 September 2012. Retrieved 6 April 2012.
  14. ↑ "AVEVA acquires the LFM software division of Z+F UK". ShareCast. Archived from the original on 15 April 2012. Retrieved 25 October 2011.
  15. ↑ "Innovation and Creativity with BOCAD Software". mssa.org.my. Archived from the original on 8 June 2015. Retrieved 23 May 2012.
  16. ↑ "AVEVA acquires BOCAD". globalprintmonitor.info. 23 May 2012. Archived from the original on 18 February 2013. Retrieved 23 May 2012.
  17. ↑ "AVEVA acquires Global Majic's simulation software suite". mining.com. 17 December 2012. Retrieved 17 December 2012.
  18. ↑ "AVEVA Acquires Software Business 8over8 For GBP26.9 Million". morningstar.co.uk. 5 January 2015. Archived from the original on 5 January 2015. Retrieved 5 January 2015.
  19. ↑ "AVEVA acquires rights to Shell's engineering design and productivity software". cambridgenetwork.co.uk. 8 February 2018. Retrieved 18 April 2023.
  20. ↑ "AVEVA to acquire Maxgrip'Äôs software assets for asset performance management". automation.com. 5 April 2019. Retrieved 18 April 2023.
  21. ↑ "Aveva acquires MESEnter software". chemengonline.com. 27 March 2020. Retrieved 18 April 2023.
  22. ↑ "AVEVA acquires MESEnter software". hydrocarbonengineering.com. 26 March 2020. Retrieved 18 April 2023.
  23. ↑ Provan, Sarah; Fildes, Nic (25 August 2020). "Aveva to buy US tech group OSIsoft in $5bn deal" . Financial Times . Archived from the original on 11 December 2022. Retrieved 25 August 2020.
  24. ↑ Shabong, Yadarisa (25 August 2020). "UK software provider Aveva buys OSIsoft for $5 billion as Softbank cashes out". Reuters. Retrieved 15 September 2020.
  25. ↑ "Aveva to Buy SoftBank-Backed Osisoft in $5 Billion Deal". Bloomberg. 25 August 2020. Retrieved 15 September 2020.
  26. ↑ "Completion of Acquisition of OSIsoft, LLC". tools.eurolandir.com. Archived from the original on 9 July 2021. Retrieved 5 July 2021.
  27. ↑ "Annual Report 2021" (PDF). AVEVA. Retrieved 5 July 2021.
  28. ↑ "Aveva set to be acquired by Schneider Electric" . Financial Times. 4 September 2017. Archived from the original on 11 December 2022. Retrieved 19 March 2018.
  29. ↑ "Schneider Electric Press Release" (PDF). Archived from the original (PDF) on 17 May 2018. Retrieved 16 May 2018.
  30. ↑ Van Overstraeten, Benoit; Sandle, Paul (21 September 2022). "France's Schneider to buy rest of Aveva in $11 billion deal". Reuters .
  31. ↑ Kirchfeld, Aaron; Nair, Dinesh; Torsoli, Albertina (21 September 2022). "Schneider to Buy Aveva in £9.5 Billion Industrial Software Deal". Bloomberg News .
  32. ↑ "Aveva shares suspended on Wednesday amid Schneider deal". Shares Magazine. 16 January 2023. Retrieved 18 January 2023.
  33. ↑ "SaberCats fall to Seawolves in first match played at AVEVA Stadium". Houston Chronicle . 13 April 2019. Retrieved 15 April 2019.
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