SolveIT Software bought by Schneider Electric
SolveIT Software aims to become a global leader in optimisation and predictive modelling after being acquired by Schneider Electric. The company was co-founded by Matthew Michalewicz in 2004 and has grown from scratch to more than 150 employees under his leadership as CEO. It has developed software which helps firms like miners and food producers wring the last drop of efficiency out of their supply chains, using high-level mathematics.
Matthew Michalewicz said the company had been working with Schneider Electric for a couple of years, and their customers, which include the largest mining companies in the world, suggested they think about linking up.