Schneider Electricannounced today that it will acquire Sweden’sTAC, a major player in the global building automation and control market (regional headquarters for TAC Americas is located in Dallas). Control, automation and supervision of building utilities, including ventilation, heating, lighting, electricity and safety systems, represents significant growth potential for Schneider Electric for a number of reasons: it is a market worth some $11 billion, it is growing on average by more than 6% a year and it offers substantial synergy with Schneider Electric’s current positions in the buildings market.

Henri Lachmann, chairman and CEO of Schneider Electric commented: “This acquisition of a company with exceptional performance and image immediately gives us a major position in a growth area related to our business, as defined in our strategy. The global building automation and control markets are at the crossroads of Schneider Electric’s two core competencies: electrical distribution and automation. The strategic fit with TAC is obvious, in terms of products, skills and geographic coverage.”

TAC CEO Arne Frank stated: “The change of ownership is a natural next step for TAC. “This means that we can offer even better solutions to our global customers, giving them coverage in geographical areas where we have not been present before. We become a better business partner to our customers and we can offer a wider variety of solutions in the energy efficiency market.”