The FTSE 250 software company Aveva is expected to announce a merger with Schneider Electric today, following two failed attempts over the past two years.

The Cambridge-based company will say it is merging with the software division of French firm Schneider, as had been planned in earlier discussions with the energy giant.

Aveva first announced it was in talks with Schneider for a £1.3bn merger in July 2015, but those fell apart with Aveva saying it was “too complicated” to spin out Schneider’s software assets from the rest of the business.

Aveva's then-chief executive Richard Longdon had said that “the risk element got beyond bearable from our shareholders' point of view”.

Talks then renewed in July 2016, but just days later it emerged those preliminary discussions had once again collapsed causing shares in Aveva to dive.