This Research Note examines Schneider Electric’s agreement to increase its ownership in Planon to a controlling stake of 80%, announced in Schneider Electric’s Half Year 2024 financial results on 31st July 2024. Transaction Details On July 30, 2024, Schneider Electric signed an agreement to increase its ownership of Planon to a controlling stake of 80%. The transaction would further strengthen Schneider’s agnostic software strategy, with Planon’s established footprint in the global buildings market, cloud-based Integrated Workplace Management System offer, and subscription-based software business model well positioned to capitalize on the fast-growing smart building software market. The current transaction values Planon at a mid-single-digit revenue multiple, as was the case with the multiple for the initial minority investment of 25% in November 2020. The consideration paid for the minority investment amounted to €113 million in cash. The controlling stake remains subject to customary regulatory requirements and completion is expected in the coming months. On completion, Planon […]