Schneider Electric Acquires Performance Management Software Provider
Schneider Electric, Palatine, Ill., entered into an agreement to acquire InStep Software, a Chicago-based provider of real-time performance management and predictive asset analytics software and solutions. The transaction is expected to close in the fourth quarter of 2014, subject to customary regulatory and other closing conditions.
"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," says Ravi Gopinath, 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."