The French technology group Schneider Electric and the US industrial software manufacturer Bentley Systems have ended their talks about a possible partial merger. This was done by mutual agreement, as Schneider Electric announced on Wednesday in Rueil-Malmaison.

The discussions were part of Schneider Electric's strategy to expand its capabilities in industrial technology. According to earlier media reports, the French planned to merge their own software division with Bentley Systems. Such a merger would have been one of the largest acquisitions of a US company by a French company.

"Schneider to continue focusing on consistent capital allocation," the group further stated. This decision marks a return to the company's core strategies, without pursuing the potential synergies and market advantages of a merger any further.

On the Paris stock exchange, shares of Schneider Electric responded positively and temporarily rose by 0.61 percent to 232.65 euros.