Company type | Subsidiary |
---|---|
LSE: AVV (1996–2023) | |
Industry | Information Technology Technology consulting CAD/CAM Software Enterprise Asset Management Manufacturing Execution System Enterprise Solutions |
Founded | 1967 | in Cambridge, UK
Headquarters | Cambridge, England, UK |
Area served | Worldwide |
Key people | |
Revenue | £1,185.3 million (2022) [1] |
£(6.5) million (2022) [1] | |
£(62.6) million (2022) [1] | |
Total assets | £6,670.5 million (2022) [1] |
Total equity | £5,209.2 million (2022) [1] |
Number of employees | 6,500 (2022) [1] |
Parent | Schneider Electric (2023–present) |
Website | aveva |
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]
It was listed on the London Stock Exchange until it was acquired by Schneider Electric on 18 January 2023. [3]
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]
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]
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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