Schneider Electric reaches an agreement on the sale of Telvent DTN
Apr. 11, 2017
Telvent DTN is a leader in providing information services, supply chain connectivity tools and decision support solutions in agricultural, energy and environmental industries. It was consolidated under the Infrastructure division of the group and recorded revenues of $213 million. The transaction values the business at 17x its adjusted EBITA in Schneider Electric 2016 accounts. Telvent DTN was acquired by Schneider Electric through the €1.4 billion acquisition of Telvent in 2011, and the strategic review launched last year concluded that the unit was not a core offering for the group.
Following the Telvent DTN disposal and adding the disposals of other non-core units from Telvent (Transportation, IT services) made in the past two years, the total disposals amount to €1 billion. From the Telvent acquisition, the group will retain a leading portfolio of technologies for advanced grid management, pipeline management, geographical information systems and SCADA, generating revenues of more than €200 million in 2016 and growing high single digit.
The agreement is conditional upon the satisfaction of certain regulatory conditions and customary closing conditions. The transaction is expected to complete in Q2 2017, at which point the group will clarify how it intends to use the proceeds of the transaction.
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