Schneider Electric Acquires Ilevo
Schneider Electric (Palatine, IL) announced that it has acquired Ilevo (Karlstad, Sweden), a former spin-off from Ericsson, previously under the majority control of Itact (a venture capital corporation specializing in avant-garde technology) and other shareholders, including Swedish electricity distribution corporations.
"With the acquisition of 100 percent of Ilevo, Schneider Electric is pursuing its dynamic innovation approach," said Jean Kieffer, energy market and infrastructure director. "The acquisition not only brings in the most outstanding offering currently on the market but also a powerful mechanism for developing products."
As a result of this acquisition, Schneider Electric has created a new entity, Schneider Electric Powerline Communications. Based on Ilevo's existing resources, the new company has a combination of acknowledged experts in powerline communications, telecommunications and electricity distribution. It is based in Karlstad, Sweden, and Grenoble, France.