Schneider Electric to Acquire InStep Software
Schneider Electric has entered into an agreement to acquire InStep Software. It is the latest acquisition from Schneider’s software business. The transaction is expected to close in the fourth quarter of 2014, subject to customary regulatory and other closing conditions.
InStep provides two primary real-time performance management and predictive analytics softwares: eDNA and PRiSM. The eDNA historian software collects, stores, analyzes, displays and reports real-time operational and machinery sensor data.
PRiSM predictive analytics software monitors the real-time health and performance of critical assets by using pattern recognition and diagnostic techniques to identify subtle deviations in operating behavior that are often the early warning signs of imminent failures.
InStep also offers EBS energy management software, which helps universities reduce their utility costs by analyzing energy consumption and streamlining the utility billing, cost allocation and reporting processes.
According to Schneider Electric, the acquisition will allow the company to strengthen its data management and predictive analytics capabilities in the power and energy management industries, including power transmission and distribution.
InStep Software will continue to be managed by its existing executive team, adding about 70 employees to Schneider Electric’s operations in the United States.
Financial terms of the agreement were not disclosed.
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