Schneider Electric is in talks to acquire engineering software company Bentley Systems in a deal that could be worth more than $15 billion (about 108.6 billion yuan).

MC-TAOY53 Shares of Bentley, which is family-controlled and has a market value of $15.6 billion, closed at $52.06 on Thursday, up about 4 percent, after Reuters reported that Bentley was exploring alternatives including a sale after receiving takeover interest. The Bentley family is not interested in an outright sale, according to people familiar with the matter.

Bentley Systems, founded in 1984 by Carl Bentley, is a leading global software solutions provider. Bentley’s software solutions serve a variety of industries, such as infrastructure construction, rail and transportation, industrial facility design, architectural design, and more.

On April 19, Schneider said it “has been in discussions with Bentley Software regarding a potential strategic transaction,” adding that the talks are still at a preliminary stage. The acquisition is aimed at strengthening Schneider’s industrial software segment, particularly in the UK, in the face of strong competitors such as Siemens and Rockwell. This could be a repeat of the acquisition of AVEVA, a British engineering software provider.

MC-TAOY53 The deal would be the first major acquisition for Schneider Chief Executive Peter Herweck, who took over last year, and could end up being the biggest ever for the 19th-century French iron foundry.

Over the years, “acquisition demon” Schneider has expanded the company’s business scope and market share through continuous acquisition and integration, and improved the company’s competitiveness and profitability. For example, Modicon, the company that invented the world’s first PLC (Modicon 084), was acquired by Schneider. The Premium and Micro series of TE in the United States, and the Twido series of idec (Izumi) in Japan have also been included in Schneider’s pocket.