CURRENT AFFAIRS

Detailed explanation-1: -The Competition Commission of India (Commission) has published the order approving the acquisition of electrical and automation (EA) business of Larsen & Toubro Limited (L&T) by Schneider Electric India Private Limited (Schneider) and MacRitchie Investments Pte. Ltd.

Detailed explanation-2: -Schneider Electric is the parent company of Square D, APC, and others. It is also a research company.

Detailed explanation-3: -As part of Rs 14,000-crore deal between L&T and Schneider Electric, brands associated with L&T and used by its E&A division would be available to Schneider for five years from August 2020, while the brands which are not associated with L&T corporate brand were transferred to SEIPL on a permanent basis.

Detailed explanation-4: -“The full combination with Schneider Electric is intended to enable Aveva to execute its strategy faster, and further enhance its customer proposition.” As of 2021, Aveva had 100 distributors globally, which work with around 5000 system integrators.

Detailed explanation-5: -We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centres, infrastructure and industries.