) for 1.4 billion euros as it seeks to strengthen its expertise in smart and carbon-free buildings.
Schneider said on Thursday it was making a cash offer of 29 euros for each share in the German construction software firm, representing a premium of 40.6% to RIB’s closing price of 20.62 euros on Feb. 12. RIB CEO Thomas Wolf had said in 2019 that the company was open to taking an outside investor on board.
RIB’s products would help Schneider Electric enhance its capabilities in the construction phase, which currently suffers from a high level of inefficiency due to a low adoption of digital technologies, it added.
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