Invensys sells building management systems business in Europe and the Middle East to Schneider Electric.
Invensys is to sell most of its advanced building systems business in Europe and the Middle East to French electrical equipment manufacturer Schneider Electric for £82million.
Invensys, the automation, controls and process group, said the sale was part of its move to exit the contracting and services part of its building management systems business and focus on supplying products and systems to the BMS industry.
The sale is expected to be completed by the end of July subject to regulatory approval.
