Oct. 23, 2014: Schneider Electric Agrees to Acquire InStep Software
Added Software Solutions Will Complement and Strengthen Schneider’s Capabilities
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.
“Acquiring InStep Software is indicative of our commitment to delivering game-changing technology and powerful new solutions that improve efficiency, manage risk, and drive higher levels of customer value,” said Ravi Gopinath, Ph.D., executive vice president, Schneider Electric Global Solutions, Software Business. “They have a proven, experienced team who are dedicated to helping their customers achieve new levels of value, performance, and profitability, and we are delighted to welcome them to Schneider Electric.”
eDNA software strongly complements Schneider Electric’s Wonderware Historian software, and PRiSM software enhances the company’s information and asset management software offerings.
InStep Software will continue to be managed by its existing executive team, adding approximately 70 employees to Schneider Electric’s operations in the United States. Financial terms of the agreement were not disclosed.
For more information, visit www.schneider-electric.com/us/en/.
Publication date: 10/20/2014