Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AVEVA Group plc    AVV   GB00BBG9VN75

AVEVA GROUP PLC

(AVV)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryAll NewsPress ReleasesOfficial PublicationsSector news

AVEVA : DORIS Group, AVEVA and Schneider Electric Join Forces to Create Digital Twin Alliance

share with twitter share with LinkedIn share with facebook
07/17/2020 | 05:16am EDT

Three Leading Organizations Combine Expertise to Bring Digital Twins to Life, Creating Added Value and Delivering Full Support Across the Asset Lifecycle

Press Release

LONDON, UK 17th July 2020 - DORIS Group, global Engineering and Project Management company in the energy industry, Schneider Electric, the leader in digital transformation of energy management and automation, and AVEVA a global leader in engineering and industrial software, have agreed to develop a strategic partnership to deliver Digital Twin technology for the upstream oil and gas markets. These new solutions will support the goals of oil & gas organizations to improve asset performance, increase sustainability and maximize return on capital on projects.

The three companies will combine offerings to bring engineering capabilities, an asset lifecycle software solution and digital specialization in order to create a fully formed digital twin to serve as a backbone for improving performance for the upstream sector. The new solution will:

  • Bring new assets on stream faster through the use of cloud-enabled software that improves collaboration and increases engineering efficiencies
  • Deliver enhanced safety leading to better business outcomes
  • Improve traceability through a single point of accountability
  • Enable remote operations and production assurance through a fully functional Living Digital Twin that mirrors all aspects of the operating asset

Partnering to Create a Unique New Offering that Addresses Customer Challenges

Oil & Gas owner operators have struggled to go digital due to the lack of a structured offering and orchestration as no single vendor currently delivers what is required to achieve this. Large amounts of data of various types, from different sources is another challenge they face, often leading to data inaccuracy and incompatibility, as well as difficulties in organizing that data and identifying trends.

Similarly, the oil & gas sector is under considerable pressure to quantify, track and reduce CO2 emissions as well as reduce overall pollution - this can be even more difficult with limited monitoring, no established method and no data-driven decision making.

Together, DORIS, AVEVA and Schneider Electric will offer a structured digital and collaborative solution across the lifecycle of projects that will help oil & gas owner operators address many of these challenges.

Christophe Debouvry, CEO of DORIS Group, stated, 'DORIS Group is excited to be strategically partnering with Schneider Electric and AVEVA in this unique venture which will allow us to accelerate the building out of our digital transformation strategy. Combining our complementary expertise will go a long way to providing a powerful enabler to offer our customers embarking on their digital transformational journeys with optimized solutions throughout their assets lifecycle.'
Craig Hayman, CEO AVEVA, also commented, 'Leaders driving the next wave of transformation are moving quickly and that's why this partnership with Schneider Electric and DORIS Group is so opportune. Our common aim is to support organizations on their digital journey especially in the current environment, helping them accelerate the use of digital technology, realize the value of a digital twin and also work towards a more sustainable future. It's never been easier to begin a digital transformation program, as access to cloud computing, great connectivity, a merged edge and enterprise combined with analytics and machine learning, means that the ability to digitally drive productivity improvements into the industrial world is now unprecedented.'

Christopher Dartnell, President Oil & Gas and Petrochemicals at Schneider Electric, commented, 'This partnership is in line with Schneider Electric's objectives around Digitization and Energy Transition and we will bring our expertise in both energy and process efficiency to the industry. Our goal is to support customers looking to adopt a digital twin model, by offering our experience to facilitate the overall digital transformation for our clients enable them to improve lifecycle performance and safe operations while also making their operations more sustainable.'

About DORIS Group:

DORIS is a global Engineering and Project Management company in the energy industry headquartered in Paris, France. It has four main activities: Engineering Oil & Gas, Renewables, Asset Management and Technical Assistance. DORIS has 1,000 employees, present on every continent. With an experience of 55 years and more than 100 world firsts, DORIS is the reference in engineering for the energy industry. For more details visit: www.dorisgroup.com

About Schneider Electric:

At Schneider, we believe access to energy and digital is a basic human right. We empower all to make the most of their energy and resources, ensuring Life Is On everywhere, for everyone, at every moment.

We provide energy and automation digital solutions for efficiency and sustainability. We combine world-leading energy technologies, real-time automation, software and services into integrated solutions for Homes, Buildings, Data Centers, Infrastructure and Industries.

We are committed to unleash the infinite possibilities of an open, global, innovative community that is passionate about our Meaningful Purpose, Inclusive and Empowered values.

www.se.com

#SchneiderElectric #EcoStruxure #DigitalTwin

About AVEVA:

AVEVA is a global leader in engineering and industrial software driving digital transformation across the entire asset and operations life cycle of capital-intensive industries. The company's engineering, planning and operations, asset performance, and monitoring and control solutions deliver proven results to over 16,000 customers across the globe. Its customers are supported by the largest industrial software ecosystem, including 4,200 partners and 5,700 certified developers. AVEVA is headquartered in Cambridge, UK, with over 4,400 employees at 80 locations in over 40 countries.

Copyright © 2020 AVEVA Solutions Limited. All rights reserved. AVEVA Solutions Limited is owned by AVEVA Group plc. AVEVA, the AVEVA logos and AVEVA product names are trademarks or registered trademarks of AVEVA Group plc or its subsidiaries in the United Kingdom and other countries. Other brands and products names are the trademarks of their respective companies.

Enquiries:

AVEVA Media Contacts

Rose Bambi
Director Global PR and External Communications
Tel: +44 (0) 7917 554382
[email protected]

Lena Ahad
Senior Director, Strategic Communications
FTI Consulting
Tel: +44 (0) 7790 366 997
[email protected]

Disclaimer

Aveva Group plc published this content on 17 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 July 2020 09:15:09 UTC

share with twitter share with LinkedIn share with facebook
All news about AVEVA GROUP PLC
08/31AVEVA : Schneider Electric-controlled AVEVA buying mining real-time data major O..
AQ
08/27AVEVA GROUP PLC : Crossing thresholds
CO
08/25EUROPE : European stocks end lower as heavyweight resource players weigh
RE
08/25UK software provider Aveva buys OSIsoft for $5 billion as Softbank cashes out
RE
08/25NEWS HIGHLIGHTS : Top Company News of the Day
DJ
08/25FTSE 100 pulled down by miners, glum retail sales data
RE
08/25UK software provider Aveva buys OSIsoft for $5 bln as Softbank cashes out
RE
08/14AVEVA GROUP : 1st quarter results
CO
08/10GLOBAL MARKETS LIVE: Twitter and Microsoft fight for TikTok, Aramco fares bet..
07/21AVEVA GROUP : Proxy Statments
CO
More news
Financials
Sales 2021 802 M 1 033 M 1 033 M
Net income 2021 76,8 M 98,8 M 98,8 M
Net cash 2021 180 M 231 M 231 M
P/E ratio 2021 109x
Yield 2021 0,99%
Capitalization 7 779 M 9 998 M 10 012 M
EV / Sales 2021 9,47x
EV / Sales 2022 8,74x
Nbr of Employees 4 600
Free-Float 39,4%
Chart AVEVA GROUP PLC
Duration : Period :
AVEVA Group plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AVEVA GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 4 441,50 GBX
Last Close Price 4 828,00 GBX
Spread / Highest target 5,63%
Spread / Average Target -8,01%
Spread / Lowest Target -21,9%
EPS Revisions
Managers
NameTitle
Craig Hayman Chief Executive Officer & Director
Philip Stanley Aiken Chairman
Ravi Gopinath Chief Operating Officer
James Singer Kidd CFO, Executive Director & Deputy CEO
David Mathew Ward Finance Director & Secretary
Sector and Competitors
1st jan.Capitalization (M$)
AVEVA GROUP PLC3.69%9 998
ACCENTURE5.80%141 732
TATA CONSULTANCY SERVICES12.24%123 312
INTERNATIONAL BUSINESS MACHINES CORPORATION-9.18%108 410
VMWARE, INC.-5.80%60 074
AUTOMATIC DATA PROCESSING, INC.-19.47%59 022