Schneider Electric Acquires Climate Consulting Business From Atos Group

Schneider Electric is acquiring a climate consulting and net-zero solutions business from global IT services firm Atos Group. The M&A deal is expected to close in the second half of 2023.

Related: See all M&A deals involving sustainability, green IT and renewable energy services here.

This particular deal involves EcoAct SAS and its subsidiaries. The EcoAct business offers climate consulting and net-zero solutions -- from planning and forecasting to carbon offsetting. The Atos business unit generated revenues of approximately €70m (US$76 million) in fiscal year 2022, and currently employs nearly 400 people, the seller said. The deal does not include Atos’ digital Net Zero Transformation practice (part of Eviden business).

Schneider Electric, based in Rueil-Malmaison, France, has roughly 162,000 employees worldwide. The company is well known across the sustainability partner ecosystem.

Schneider Electric develops digital technologies that allow partners and customers to manage, monitor and optimize energy consumption across homes, buildings, data centers, infrastructure and industries. Recent moves include lunching the Schneider Electric Sustainability School -- which offers free online training programs to help partners "strategize, digitize and decarbonize."

Schneider Electric Acquires Climate Consulting Business: Executive Perspectives

In a prepared statement about the asset acquisition, Steve Wilhite, president, Sustainability Business at Schneider Electric, said: “Demand for sustainable goods and services is rapidly increasing as businesses navigate the challenges posed by climate change, the energy crisis, and investor and regulatory pressures. The solutions to these challenges are complex to navigate. By combining forces with EcoAct, we would expand our team of world-class sustainability consultants and our ability to deliver strategic value to our clients, accelerating the transition to the carbon-free energy future.”

Added Diane Galbe, senior executive VP, Atos: “We are very pleased with this proposed transaction, after which we would have secured more than 100% of our divestment program and delivered on our commitment. Our transformation plan has already showed encouraging performance results, and we have further reinforced our clients’ confidence in our ability to accompany them in their digital challenges. Digitization and decarbonization are key for all businesses today. Thanks to this future partnership with Schneider Electric we look forward to developing leading edge offers to accelerate customers’ journeys to NetZero.”

Concluded Stuart Lemmon, global head of EcoAct: “I am excited for EcoAct to potentially join Schneider Electric and to continue to grow our ability to lead clients through challenges at the heart of the energy and resource transition. I believe this transaction could provide fantastic opportunities to our talented and passionate ‘EcoActors’ and look forward to the promising future ahead.”

Atos, meanwhile, is in business evolution mode. The global IT consulting firm unveiled a breakup plan in June 2022 amid continued growth challenges at the company. The plan includes continued cloud services acquisitions while also selling off certain assets.