French electrical equipment maker Schneider Electric said yesterday it has agreed to combine its industrial software activities with British firm Aveva in the third attempt to merge the two companies in as many years. Schneider Electric said in a statement it will take a 60-percent stake in the combined entity, with existing Aveva shareholders to receive 650 million pounds in cash or 1,014 pence per Aveva share. It would continue to be based in Cambridge and it will remain listed on the London Stock Exchange.