By Kim Richters

France's Schneider Electric SE (SU.FR) said Thursday that it plans to invest 500 million euros ($547 million) in startups over the next five years.

Schneider hopes to "remain at the forefront of technology" and strengthen its business by investing in and collaborating with startups, said Emmanuel Lagarrigue, the electrical-equipment provider's chief innovation officer.

The company didn't define in which country or industry potential investments could happen.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

October 03, 2019 12:03 ET (16:03 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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