The Board of AVEVA notes today's press speculation and confirms that it has received a revised, conditional proposal from Schneider Electric SE ("Schneider Electric") for AVEVA to combine with Schneider Electric's Software Business in exchange for new AVEVA shares to be issued to Schneider Electric. Similar to the previous discussions that took place between the parties last year, the proposal also includes a significant cash payment from Schneider Electric to AVEVA, which would be distributed to AVEVA's current shareholders upon completion. The proposed transaction, if consummated, would result in Schneider Electric owning a majority equity stake in the enlarged AVEVA, which is intended to remain listed on the London Stock Exchange.