Schneider Electric, Rueil-Malmaison, France, has agreed to acquire SCADAgroup, an Australia-based provider of telemetry products for the water and waste-water, oil & gas and electric power end-market segments, for AU$200 million (US$186.9 million).
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SCADAgroup has operations throughout North America, the UK and Australia and employs over 500 staff. It is expected to generate revenues in excess of AU$110 million (US$102.8 million) for the current fiscal year ending in June 2010.
Through this acquisition, Schneider Electric further reinforces its presence in the water, waste-water, and oil & gas segments, key market segments being targeted by the manufacturer according to the company press release.