Britain's Aveva to tie-up with Schneider Electric in software deal
LONDON, Sept 5 (Reuters) - British engineering software company Aveva Group (Frankfurt: A1W0MM - news) said on Tuesday it had agreed to combine with Schneider Electric (EUREX: SND1.EX - news) 's software business, creating a London-listed software firm worth more than 3 billion pounds.
France's Schneider will take a 60 percent stake in the enlarged group under the terms of the deal, which is structured as a reverse takeover.
Details of the deal - the third attempt by the two companies to combine - were reported late on Monday.
(Reporting by Paul Sandle; editing by Kate Holton)