PRESS RELEASE : Government to take no further action under NSI Act 2021 on Aveva group acquisition [December 2022]

The press release issued by the Department for Business, Energy and Industrial Strategy on 7 December 2022.

The government has powers under the National Security and Investment Act 2021 to scrutinise and, if necessary, intervene in qualifying acquisitions on national security grounds.

The acquisition by Ascot Acquisition Holdings Limited (an indirect subsidiary of Schneider Electric SE) of Aveva Group Plc was notified to the Investment Security Unit in October 2022.

Following screening of the notification, the Business Secretary has decided that no further action will be taken under the Act in relation to the acquisition.