June 14, 2006: Schneider Electric to Acquire Invensys Building Systems
RUEIL MALMAISON, France - Schneider Electric has announced that it will acquire Invensys Building Systems (IBS) operations in North America and Asia, subject to regulatory approvals.
This acquisition follows the acquisition of Invensys Advanced Building Systems in 2005, and will be complementary with Schneider Electric's building automation platform, said the company. IBS generated revenues of $142 million for the fiscal year ended March 31, with operating profit of $20 million. The firm is a leading provider of building automation products and services.