fastenings for construction and electrical firms. In 2017, Schneider Electric became the majority shareholder of Aveva, a provider of engineering and industrial software based in the UK. The next year, it acquired the Indian multinational Larsen & Toubro's electrical and automatic business in a cash deal for . In February 2020, Schneider made a €1.4 billion takeover bid for German company RIB Software, closing the deal in July 2020. Also in 2020, Schneider Electric acquired ProLeiT AG, a supplier of industrial control and MES software. In April 2021, Schneider introduced 'The Zero Carbon Project'. Since then, it has shown its commitment to minimize 'operational carbon emissions' by 2025. In January 2023, Schneider Electric's acquisition of Aveva was finalized. Acquisitions and divestments Organizational structure and offer Since 2019, Schneider Electric has been operating business units: Energy Management, Industrial Automation, and Services. Energy Management The Energy Management business provides products for the management of energy in medium voltage and grid automation, low voltage and building automation, secure power and cooling applications. Services The Services business includes three divisions: Global Field Services, Energy and Sustainability Services, and Smart grid Services. EcoStruxure In 2016 Schneider Electric launched the next generation of EcoStruxure – an IoT-enabled architecture. The EcoStruxure platform uses Microsoft Azure. In 2021, the EcoStruxure solutions introduced by Schneider helped customers lessen 'carbon emissions' by 84 million tonnes. In April 2019, the company launched Schneider Electric Exchange, an open business platform. In June 2022, Schneider Electric introduced its EcoStruxure Machine Expert Twin, an adaptable digital shadow software solution that aims to handle the machine's 'lifecycle'. Research and development investment In its Innovation Summit North America, Schneider Electric expressed its aim to assess emerging technologies, support and subsidize startups through guiding them. In FY2021, Schneider Electric announced that its research and development expenses were around 855 million euros. Operational technology In January 2023, Schneider Electric's interest to develop the area of Operational Technology was concretized through its partnership with BitSight, a specialist in the field of cybersecurity. In fact, their collaboration seeks to realize a unique 'global Operational Technology (OT) Risk Identification and Threat Intelligence capability' that aims to detect the threats to Operational Technology and consolidate 'industrial security'. See also Creusot steam hammer References External links Schneider Electric global blog CAC 40 Companies based in Île-de-France Companies in the Euro Stoxx 50 Companies listed on Euronext Paris Conglomerate companies of France Electric transformer