By Gregory Hale
One of the big questions going into the Foxboro & Triconex Global Client Conference ‘13 here in San Antonio is talk about Invensys’ $5.2 billion pending merger with Schneider Electric.
“There has been a lot of talk about this out in the industry and I just want to set the record straight. Schneider made an offer and the Invensys board will recommend the takeover,” said Invensys President and Chief Executive Mike Caliel. “Hopefully, the deal will close by the end of the year or early next year.”
He then said by law, there is quite a bit he cannot say. Right now they are two separate companies and they are operating as such, however, the synergies between the two show great potential to go to market from the discrete and processes angles.
While the discussion of Schneider’s history of takeovers is suspect, Invensys leaders are saying they are seeing very good signs of what the combined company will be able to do.
While a full integration of the two companies can take by estimates 18 months to two years, the thought is for end users, business should pretty much remain the same for a period of time.
Invensys even showed a video from Jean-Pascal Tricoire, Schneider’s chief executive, who said he was happy to learn about the new Evo system and is looking forward to moving forward with Invensys.