Schneider Electric to purchase Invensys Building Systems operations for $296 million

Schneider Electric agreed to pay $296 million in cash to acquire 100% of Invensys Building Systems (IBS), which generated $142 million in revenue for the fiscal year ended March 31, 2006. The deal follows prior acquisitions of TAC, Andover Controls, and ABS EMEA, building out Schneider's building automation platform.

“Subject to regulatory approvals, Schneider Electric will pay $296 million in cash to acquire 100% of the IBS business on a cash-free debt-free basis”

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