Energy management company, Schneider Electric, has announced that it has signed an acquisition agreement with Adelaide-based scientific software provider, SolveIT Software.
SolveIT’s demand planning and forecasting tools intend to assist industrial operations to manage their end to end demand chain and execute optimised plans which take into account existing and future constraints.
Schneider Electric refused to comment on the value of the acquisition, as well as its anticipated completion date.
The acquisition complements Schneider Electric’s solutions offering in the operations management space by providing the forecasting, optimisation and modelling capability on top of its production analytics tools in the mining, minerals, metals and general manufacturing sectors.
According to Schneider Electric, this provides the company with a capability that the major industrial players are currently demanding. It also believes that the combined platform will enable customers to deliver more from their existing assets than previously to grow profitability per unit output.
The goal is to provide Schneider Electric customers more visibility into complex and fast-moving industries.