Schneider Electric buys SolveIT

   Energy management specialist Schneider Electric has signed an agreement to purchase supply chain and demand optimization software provider SolveIT Software.
   SolveIT, based in Adelaide, Australia, provides software for the supply and demand chain areas with a focus on optimization and predictive modeling. Its services are currently used by large organizations like Rio Tinto, BHP Billiton, and Xstrata for production optimization, demand planning, and forecasting based on existing and future constraints, including workforce variability and market conditions. SolveIT also develops tools around production, storage, logistics, and distribution.
   The acquisition would boost Schneider Electric’s solutions offering in the operations management space by providing the forecasting, optimization and modeling on top of Schneider Electric’s production analytics tools for the mining, minerals, metals, and manufacturing industries.  A combined platform would allow customers to deliver more from existing assets.
   Schneider Electric hopes adding in predictive modeling will enhance its production planning, scheduling, and organization software use in the Australian market where it already has an established brand.