Schneider Electric, Paris, said it would acquire Invensys Building Systems operations (IBS) in North America and Asia, subject to regulatory approvals.
This acquisition follows the acquisition of Invensys Advanced Building Systems in 2005, and will be complementary with Schneider Electric’s building automation platform. IBS generated revenue of $142 million for the fiscal year ended March 31, 2006, with operating profit of $20 million. The company provides building automation products and services.