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Invensys Purchased by French Company Schneider Electric

Invensys
Invensys
A $5.6 billion takeover of Invensys by French multinational corporation Schneider Electric was completed on Friday, giving the company control over the Foxboro branch of the company which employs about 1,000 workers.

The move was described to employees by Schneider Electric as good for career and business opportunities with one employee telling the Sun Chronicle that he believed the acquisition was good for benefits and job advancement options.

Work on the $33 million renovation of the Neponset and Cocasset buildings will continue.

The deal was originally agreed upon over the summer and was approved by the European Union in November.

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