Schneider Electric Gets $244.6M For Invensys Appliance Unit

Law360, New York (February 5, 2014, 2:35 PM EST) -- France's Schneider Electric SA said Wednesday that it is selling the appliance division of software maker Invensys to an affiliate of Sun European Partners LLP for £150 million ($244.6 million), as part of the company's effort to move toward core businesses.

The deal is expected to be completed during the first quarter fo 2014. According to a Wednesday press release from Schneider, the company determined that the appliance unit of U.K.-based Invensys, which generated revenues of $540.42 million in the financial year ending March 31, was...
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