Aveva says Schneider Electric reported continued growth in Q4
Source - SMW
AVEVA Group plc said the industrial software portfolio of Schneider Electric in the final quarter of 2017, experienced continued growth in its licencing and maintenance revenue streams, partly offset by a slight decline in services revenue.
This decline in services revenue was weighed by a reduction in mid-stream Oil & Gas business project volume, related to the asset upgrade cycles of major customers, Aveva said.
Aveva Group agreed to combine with Schneider Electric's software business in late 2017 in a deal worth more than £3bn.
At 8:16am: (LON:AVV) AVEVA Group PLC share price was +32p at 2862p