HOUSTON — Schneider Electric has entered into an agreement to acquire InStep Software, a leading provider of real-time performance management and predictive asset analytics software solutions. Schneider said it is the latest acquisition from the company’s growing Software business. The transaction is expected to close in the fourth quarter of 2014, subject to customary regulatory and other closing conditions.

Headquartered in Chicago and founded in 1995, InStep provides two primary software solutions. Its eDNA historian software collects, stores, analyzes, displays, and reports on real-time operational and machinery sensor data. Its PRiSM predictive analytics software monitors the real-time health and performance of critical assets by using advanced pattern recognition and diagnostic techniques to identify subtle deviations in operating behavior that are often the early warning signs of imminent failures. The company also offers its 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.