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Invensys

Invensys was a multinational and information technology company headquartered in , , specializing in industrial , process control systems, and software solutions for and sectors. Formed in 1999 through the merger of and Siebe —initially as BTR Siebe and renamed Invensys in April 1999—the company combined diverse expertise from its predecessors, with Siebe tracing its origins to 1819 as a manufacturer of and safety gear. At its peak as of 2002, Invensys employed around 70,000 people worldwide and generated annual sales exceeding £6.9 billion, serving industries such as oil refining, power generation, , and . The company's operations were organized into four primary business segments: Industrial Automation, which provided control systems and instrumentation; Software, offering enterprise solutions for operations ; Energy Controls, focusing on building and technologies; and Controls. Notable product lines included the Foxboro distributed control systems (acquired by Siebe in 1990 for $650 million), industrial software for human-machine interfaces, and APV process equipment for food and beverage industries (acquired in 1997). Invensys also expanded through strategic acquisitions, such as the U.S.-based Robertshaw Controls in 1986 and the software firm Baan in 2000 for $802 million, enhancing its capabilities in automation and . Following financial challenges in the early , including a that prompted 11,000 job cuts and a major under CEO Rick Haythornthwaite in 2001, Invensys refocused on core technologies. The company faced ongoing pressures from market volatility but maintained leadership in process , particularly through brands like Foxboro, which celebrated its 100th anniversary in 2008 as a in controls. In January 2014, , a French multinational in and , completed the acquisition of Invensys for approximately $5.2 billion (£3.4 billion), integrating its operations to strengthen Schneider's position in industrial software and process . Post-acquisition, Invensys's technologies, including its software and systems, continue to operate under the umbrella, supporting global industrial digitalization efforts.

Overview

Founding and Formation

Invensys plc was formed on February 4, 1999, through the merger of , an industrial conglomerate with origins dating back to 1924 as the British Goodrich Rubber Co. Ltd, and Siebe plc, an engineering firm descended from Siebe Gorman & Company, which traced its roots to 1819 when Augustus Siebe established his engineering practice in . The merger created BTR Siebe plc, a global leader in controls and , with Siebe shareholders retaining 55% ownership and BTR shareholders receiving 45% through an exchange ratio of 0.533 new shares for each BTR share. The combined entity had a of approximately £7.6 billion at the time of the merger's announcement in November 1998. The new company was renamed Invensys plc on April 16, 1999, following a vote, reflecting its focus on innovative systems for , , and industrial controls across sectors like and . Headquartered in , , Invensys aimed to leverage the complementary strengths of BTR's diverse industrial portfolio and Siebe's expertise in and controls to drive synergies in global markets. Leadership transitioned smoothly with Lord Colin Marshall, former chairman of Siebe, appointed as the initial chairman of the merged entity, providing strategic oversight during the integration phase. Allen Yurko, Siebe's chief executive, took the helm as CEO of Invensys, emphasizing operational efficiencies and growth in automation technologies from the outset. This setup positioned Invensys as a formidable player in the industrial sector, setting the stage for its early corporate structure and strategic direction.

Core Business Focus

Invensys's core business centered on industrial automation, transportation systems, , and process controls, providing advanced technologies to optimize industrial operations. The company developed and supplied control systems, software, and designed to enhance efficiency, safety, and reliability in complex industrial environments. It primarily served key target markets such as oil and gas, chemicals, power generation, , and rail , where its solutions addressed challenges like process optimization and . For instance, in the oil and gas sector, Invensys offered specialized for upstream and downstream operations, while in rail , it provided signaling and control systems for transportation networks. Its strategic emphasis lay in integrating hardware, software, and services to deliver comprehensive solutions that improved operational efficiency and reduced costs for clients across these sectors. This integrated approach included software platforms like for real-time data management and visualization. At its peak before acquisition, Invensys conducted operations in over 50 countries with products and systems sold in nearly 180 countries, supporting more than 225,000 plants and facilities worldwide. In the ending March 31, 2013, the company reported of £1,792 million and an operating of £131 million, reflecting its in the global market.

History

Pre-Merger Origins

traces its origins to the rubber manufacturing sector in the late , evolving from Silver’s Rubber Works & Telegraph Cable Company, Ltd., established on March 31, 1864, by W. Silver as an extension of his earlier colonial trading business founded in 1798. The company initially focused on rubber and products, including underwater telegraph cables and innovative items like golf balls introduced in 1888, before diversifying into electrical systems in 1889 and tires through the acquisition of Palmer Tyre Ltd. in 1895. By the mid-20th century, it had shifted toward thermoplastics, rubber engineering, and broader industrial applications, renaming to in 1956 after ceasing tire production. Under aggressive acquisition strategies in the and , became a diversified in rubber, plastics, automotive parts, and engineering systems; notable deals included the £637 million of Thomas Tilling in 1983—the largest British hostile bid at the time—the purchase of Holdings in 1985 for sports and leisure products, and earlier expansions like Huyck Corporation in 1980 for printing components and Serck Group in 1981 for . By 1998, reported annual sales of £4.8 billion, with operations spanning process controls, power drives, and automotive systems. Siebe plc originated from the engineering innovations of Siebe, who founded Siebe and Co. in 1819 as a submarine engineering firm specializing in and . Incorporated as & Company Ltd. on April 1, 1920, the business initially concentrated on safety gear, including pioneering closed-type suits developed in 1837 and later tools. Under leadership changes in the , particularly Barrie Stephens from 1963, Siebe underwent restructuring and pivoted toward industrial controls and through targeted acquisitions, achieving £3.9 billion in sales by 1998. Key expansions included James North & Sons in 1972 for protective clothing, Tecalemit in 1982 for lubrication systems, CompAir in 1985 for compressors, Robertshaw in 1986 for , and the landmark $655 million acquisition of the Foxboro Company in 1990, a leading U.S. provider of . Subsequent deals, such as Raneo and Barber-Colman in 1987, , and Eurotherm in the 1990s, solidified its position in high-value engineering sectors. BTR's extensive diversification strategy, while driving growth through acquisitions, introduced operational complexity and profitability pressures in the , as the grappled with disparate businesses lacking clear synergies, prompting criticism and a need for . In contrast, Siebe's focused heritage in controls and safety provided complementary strengths, emphasizing high-value that aligned with BTR's and automotive capabilities, setting the stage for their strategic alignment. A key precursor to the 1999 merger was the November 1998 announcement of their £6 billion all-share combination, which integrated BTR's power supplies and controls divisions—such as its operations in components—with Siebe's portfolio, aiming to create a global leader in industrial controls without prior standalone asset sales between the firms. This move was projected to yield at least £250 million in annual synergies by leveraging the partners' mutual expertise in systems.

Merger and Early Expansion

The merger of and Siebe plc, announced in November 1998 and completed on February 4, 1999, created a combined initially known as BTR Siebe before being renamed Invensys later that year, a name selected through an internal vote to reflect innovation and systems integration. Post-merger integration efforts focused on streamlining operations and divesting non-core assets inherited from BTR, particularly in low-technology sectors, to pivot toward high-tech and controls; this included the sale of BTR's automotive components business, such as the US-based Automotive Fluid Handling division for £151 million in late 1999, and other units in paper technology and . Under new leadership, Rick Haythornthwaite assumed the role of CEO in October 2000, succeeding Allen Yurko amid a strategic shift toward technology-driven growth in industrial software and systems integration. Haythornthwaite's approach emphasized consolidating core competencies in , reducing debt through focused investments, and enhancing customer-facing technologies to position Invensys as a leader in "sensor-to-boardroom" solutions. Early expansion included key acquisitions to bolster software and specialized instrumentation capabilities. In May 2000, Invensys acquired , a software provider, for €762 million, integrating it to strengthen offerings in manufacturing and . This was followed by the organization of rail-related assets from Siebe's legacy businesses into Invensys Rail Systems in 2001, enabling entry into advanced rail signaling and control technologies, including development of (ETCS) components. By the mid-2000s, Invensys advanced its portfolio with the launch of the engineering platform in , an enterprise designed to unify process control, production management, and using ArchestrA for seamless integration across industrial operations. These initiatives marked Invensys's transition into a more cohesive provider, though they contributed to rising financial pressures from acquisition costs.

Financial Challenges and Restructuring

In the early 2000s, Invensys faced severe financial pressures stemming from the dot-com bust, which eroded demand in key sectors like and , exacerbating the company's high debt levels from aggressive acquisitions during the late 1990s. A prominent example was the 2000 acquisition of Dutch software firm Baan for approximately $802 million, which proved ill-timed amid the tech downturn and resulted in ongoing losses; by 2003, Invensys sold Baan to U.S. private-equity firms and for $135 million, booking a substantial of £585 million as part of record annual losses exceeding £1.4 billion. These factors contributed to net debt swelling to over £3.3 billion by early 2002, threatening the company's liquidity and forcing a pivot toward survival-focused measures. Between 1999 and 2004, Invensys implemented an extensive program to streamline operations and reduce costs, including thousands of redundancies across its global workforce to address falling sales and mounting liabilities. This involved shedding non-core units through a series of divestments, with proceeds aimed at debt reduction; notable sales included its metering systems for £390 million in 2003 and the power-transmission to for around $913 million in 2002, as part of a broader effort that ultimately disposed of more than half of its units. The initiative narrowed focus to core areas like industrial and controls, while also tackling a £300 million deficit, though it came at the cost of operational upheaval and further profit warnings. Debt resolution accelerated in 2004 through a comprehensive £2.7 billion refinancing package, which averted collapse by replacing maturing obligations with longer-term financing, including a £450 million equity placing and open offer, £625 million in high-yield bonds due in 2011, and a new £1.6 billion bank facility. This restructuring, supported by advisors like Deutsche Bank, reduced immediate repayment pressures and stabilized cash flow, enabling net debt to fall to around £1.3 billion by mid-2004. By fiscal 2005, these efforts yielded improved profitability, with operating profits rising amid a shift toward organic growth in high-margin segments. In July 2005, Ulf Henriksson succeeded Rick Haythornthwaite as CEO, bringing experience from his prior role as and emphasizing sustainable expansion over further divestments. Under Henriksson's leadership, Invensys prioritized core technologies, marking a transition from to strategic recovery.

Late Developments and Acquisition

In the early 2010s, Invensys pursued strategic divestitures to streamline its operations and concentrate on high-growth areas such as industrial software and . A key move was the sale of its rail automation business, Invensys , to AG, announced on November 28, 2012, and completed on May 2, 2013, for approximately £1.74 billion. This transaction allowed Invensys to refocus resources on its core industrial software and control systems segments, while returning about £625 million to shareholders through a special . Following the appointment of Wayne Edmunds as on March 24, 2011—replacing Ulf Henriksson amid operational challenges—Invensys initiated a strategic review to address market pressures, including declining stock performance and projected profit reductions. Under Edmunds' leadership, the company emphasized restructuring efforts that enhanced focus on core assets, building momentum toward eventual sale preparations. These developments culminated in Invensys's acquisition by Schneider Electric SA, announced on July 31, 2013, as a cash-and-stock deal valued at £3.4 billion (approximately $5.2 billion). The transaction received shareholder approval on October 10, 2013, and cleared key regulatory hurdles, including European Commission antitrust clearance on November 29, 2013, before completing on January 17, 2014. Immediately following the announcement, both companies outlined preliminary integration plans, emphasizing synergies in industrial while committing to retain prominent Invensys brands such as Foxboro, Eurotherm, and Triconex to leverage their established market positions.

Operations

Organizational Structure

Invensys operated with a divisional comprising three primary business segments by 2013: Invensys Operations Management, focused on software solutions; Invensys Rail, centered on rail systems prior to its divestiture; and Invensys Controls, encompassing hardware products and technologies. This setup allowed the company to address diverse industrial needs while streamlining operations across process industries, , and sectors. The management hierarchy featured a responsible for strategic oversight, supported by executive leadership and regional heads who coordinated local operations and ensured alignment with global objectives. Cross-segment collaboration was facilitated through the , which integrated software, , and capabilities to enable unified operations and enhanced visibility across divisions. In terms of employee structure, Invensys had approximately 16,000 employees worldwide during , with a notable emphasis on to drive innovation in industrial technologies. The workforce was distributed to support the divisional focus, including engineering teams dedicated to advancing and systems. As a FTSE 100-listed company until its 2014 acquisition, Invensys complied with corporate governance standards, including the , which guided its board composition, , and shareholder relations. This structure was bolstered by a global network of offices to facilitate international coordination.

Global Presence and Workforce

Invensys maintained its headquarters in , , serving as the central hub for its global operations. The company established major facilities across key regions, including the Foxboro site in , , which focused on process and control systems development; the Chippenham facility in , , dedicated to rail signaling and ; a development center in , , supporting software and engineering services; and a large manufacturing and technology center in , , for regional production and innovation in industrial controls. These locations facilitated Invensys's operations in over 50 countries, with products and services sold in more than 180 countries worldwide. The company's regional operations emphasized , where it generated a significant portion of through strong industrial automation demand, followed by as a core market for controls and rail systems, and growing presence in driven by expansion in power and manufacturing sectors. Specialized centers included rail operations in for European signaling projects and signaling expertise in via Invensys Rail Pty Ltd, enhancing localized support for transportation infrastructure. distribution reflected strategic investments in emerging markets where sales doubled in , , and the over five years. Invensys's workforce peaked at approximately 70,000 employees around 2002 prior to major efforts in the mid-2000s, which reduced headcount to approximately 16,500 by through cost-saving measures and divestitures. The company implemented initiatives to foster an inclusive environment across its teams and offered programs focused on skills, such as operator kiosks using SimSci-Esscor EYESIM solutions for tasks in and industrial settings. These programs aimed to enhance employee capabilities in advanced control systems. To support its global distribution, Invensys formed partnerships with local manufacturers and integrators, including strategic alliances with and Applied Manufacturing for North American market solutions, as well as collaborations with Preactor International for in and beyond. These partnerships enabled efficient and customized integration of Invensys's automation technologies in regional markets.

Products and Technologies

Software Solutions

Invensys developed a range of software solutions aimed at enhancing , , and process optimization in industrial sectors such as , , and process industries. These tools focused on enterprise-level , , and workflows, often built on open architectures to support with existing systems. Avantis served as Invensys's (EAM) software, designed to optimize maintenance strategies for asset-intensive operations. It integrated maintenance planning, , and predictive monitoring to improve asset reliability and reduce downtime, with features like automated work orders triggered by from control systems and reliability metrics such as mean-time-between-failure analysis. Avantis enabled organizations to track equipment history, manage inventories with controls, and streamline through auditable approval workflows, transforming operational data into actionable insights for better decision-making. SimSci provided tailored for process industries, including oil, gas, refining, and , to model and optimize complex operations. Key offerings like PRO/II enabled steady-state process simulation for designing, analyzing, and improving chemical processes, supporting applications from to equipment sizing and assessments. SimSci tools incorporated advanced modeling for heavy oils, electrolytic systems, and , helping users achieve productivity gains by simulating scenarios before implementation. Established in 1983 under predecessor entities and integrated into Invensys following the 1999 merger, SimSci became a cornerstone for plant-level simulations in hydrocarbon and chemicals processing. Skelta BPM offered tools for automating and streamlining workflows across enterprises. Acquired by Invensys in April 2010, it featured an embeddable, web-based architecture supporting , execution, business rules, forms, and document management, with integration to technologies like and BizTalk. Skelta enabled rapid deployment of prebuilt solutions for areas such as , , and , fostering collaboration and reducing in sectors like and . Its advanced capabilities improved productivity by enforcing standardized processes and providing activity monitoring. Wonderware represented Invensys's flagship human-machine interface (HMI) and supervisory control and data acquisition () software, focused on real-time monitoring and control in industrial environments. Products like InTouch HMI provided visualization tools for operators to interact with systems, offering , alarms, trending, and scripting for process control and supervisory tasks. The System Platform extended these capabilities with redundancy, object-oriented modeling, and integration services, forming a robust operating environment for distributed applications. Integrated into Invensys through the 1999 merger of predecessor companies, became central to Invensys's portfolio. These software solutions converged in the InFusion suite, which facilitated end-to-end digital operations by integrating enterprise and plant-floor systems into a unified "." Built on the ArchestrA platform, InFusion combined Avantis, SimSci, Skelta, and with other Invensys technologies to enable seamless data flow, real-time , and open connectivity to legacy and third-party applications, supporting in over 200,000 global plants.

Industrial Automation Systems

Invensys's industrial automation systems encompassed a range of and solutions designed for process control and in demanding environments, emphasizing reliability and scalability for sectors like oil and gas, chemicals, and manufacturing. These systems, including distributed control systems (DCS), safety instrumented systems (SIS), and precision controllers, were developed through strategic acquisitions and internal innovation, enabling seamless integration for continuous and discrete processes. The Foxboro I/A Series represented Invensys's flagship DCS, originating from the 1990 acquisition of The Foxboro Company by Siebe PLC, which later merged into Invensys in 1999. This system provided for continuous processes, featuring modular architecture with intelligent marshalling to reduce wiring complexity and enhance , making it suitable for large-scale operations in refineries and chemical plants. As the core of the Enterprise Control System, the I/A Series supported advanced diagnostics and high-availability controllers, allowing operators to manage complex workflows with minimal downtime. Invensys's Triconex portfolio focused on for high-integrity protection in hazardous settings, utilizing (TMR) technology where three parallel channels independently execute control programs and vote on outputs to ensure operation. Acquired by Siebe in 1994 and integrated into Invensys following the 1999 merger, Triconex systems employed two-out-of-three voting logic integrated with extensive diagnostics, preventing process deviations in critical applications like emergency shutdowns and fire protection. These solutions complied with standards for up to SIL 3, providing certified reliability for environments prone to catastrophic failures. Eurotherm offerings complemented these by delivering specialized temperature and process controllers, along with tools, tailored for precision. Stemming from Siebe's 1998 acquisition of Eurotherm, these instruments featured high-accuracy algorithms in compact DIN formats, supporting multi-loop control and universal inputs for sensors like thermocouples and RTDs. They enabled real-time monitoring and adjustment in production lines, minimizing waste and optimizing energy use in processes such as plastics and . These systems found widespread application in global refineries, with Foxboro DCS and Triconex SIS deployed in major facilities such as cracking units in and expansions in , underscoring their role in enhancing operational safety and efficiency. Emphasis on standards like ensured compliance with international safety requirements, reducing risk in high-hazard continuous operations.

Controls and Energy Management

Invensys's Controls and segment encompassed a range of products and services designed to enhance in utilities, buildings, and industrial applications, emphasizing metering, , and power optimization. This division integrated hardware and data services to support compliance, reduce consumption, and enable demand-side management, particularly in residential, commercial, and food-related sectors. Acquired subsidiaries played a pivotal role, providing specialized technologies that aligned with growing demands for practices. Following the 2014 acquisition by , some products like Eurotherm were divested to Watlow in , while others were integrated into Schneider Electric's portfolio. IMServ , acquired by Invensys in 2000 for $56 million from SEEBOARD , specialized in metering and services for utilities, offering for , gas, and . As a key provider, IMServ managed large-scale metering operations, including data handling for over 1.3 million meters in deployments like Gas Light Company's automated reading program. Its services facilitated accurate reporting and optimization, with the EDV online portal delivering hundreds of thousands of utility management reports annually to support and efficiency improvements. Drayton and Eberle, both integrated into Invensys through earlier acquisitions—Drayton via the 1999 BTR merger and Eberle by Siebe (predecessor to Invensys) in 1993—focused on thermostats and heating controls for residential and commercial buildings. Drayton's Digistat series provided programmable room thermostats with features like connectivity for precise temperature management and energy savings in home and light commercial settings. Eberle's offerings included surface-mounted digital controllers and clock thermostats for water-guided and systems, ensuring reliable regulation in enclosed environments to minimize waste. Eliwell, acquired by Siebe between 1992 and 1998 and operating as part of Invensys Controls, developed controllers for HVAC and applications. Its electronic controllers, such as the ID 900 series, monitored and adjusted temperatures in commercial units like cold rooms and display cases, supporting defrost cycles and energy-efficient operation in perishable goods . With over 30 years of expertise by the early 2000s, Eliwell's solutions emphasized reliability for industrial , contributing to reduced operational costs in and air-conditioning systems. Broader offerings in power and systems further advanced , with tools like the GoodWatts system enabling load shedding and regulation services for utilities. Invensys's intelligent metering platforms, including end-to-end energy measurement for gas, , and , supported advanced data services for consumption analysis. These integrated metrics, such as energy savings calculations derived from , helped users quantify reductions in usage and align with goals.

Legacy and Integration

Acquisition by Schneider Electric

On July 31, 2013, announced its agreement to acquire Invensys plc for approximately £3.4 billion ($5.2 billion), offering 502 pence per share in a mix of 372 pence in cash and 0.130 shares (equivalent to 0.025955 new shares after adjustments). This represented a 14% premium to Invensys's closing share price prior to the announcement of discussions on July 11, 2013. The deal received shareholder approval from Invensys on October 10, 2013, and cleared regulatory hurdles, including antitrust reviews by authorities in the , , , , , and the Committee on Foreign Investment in the (CFIUS), by December 13, 2013. The acquisition was completed on January 17, 2014, following the satisfaction of all customary closing conditions under a UK Scheme of Arrangement. The strategic rationale centered on enhancing Schneider Electric's capabilities in industrial , particularly in software and distributed control systems (DCS), to better serve energy-intensive sectors such as oil and gas, chemicals, and power generation. Invensys's software portfolio, including for human-machine interface and supervisory control solutions, complemented Schneider's existing offerings, while its Foxboro DCS strengthened process in downstream and applications. The combined entity aimed to leverage these assets for greater in and , with projected synergies of €140 million in annual cost savings by 2016 and €65 million in revenue by 2018, alongside a €400 million tax benefit. This move positioned Schneider to expand its integrated power and solutions, building on Invensys's £1.8 billion in fiscal revenue and global installed base. Financially, the transaction carried an enterprise value of around $5.5 billion, incorporating Invensys's assumed net debt of approximately $300 million, with Schneider funding it through €2.9 billion in cash and the issuance of about 17.2 million new shares representing roughly 3% of its pro-forma . Prior to the acquisition, Invensys had undertaken divestitures of non-core assets, such as its rail business in , to streamline operations and focus on and controls. In the immediate post-acquisition phase, Schneider committed to retaining the bulk of Invensys's approximately 16,000 employees, establishing an integration steering committee to oversee a 6- to 24-month transition process that included quarterly performance monitoring and reviews. To incentivize key staff, Schneider allocated a £4 million retention bonus pool for corporate employees, offering up to 150% of annual salary. Non-core elements, such as the Invensys (generating £331 million in 2013 revenue), were promptly divested for £150 million in February 2014, aligning the with Schneider's core focus and laying groundwork for future alignment with platforms like EcoStruxure.

Post-Acquisition Developments and Impact

Following the 2014 acquisition, Schneider Electric undertook a comprehensive integration of Invensys' operations, embedding its technologies into the broader EcoStruxure platform for (IIoT) applications. This process involved rebranding key Invensys products under Schneider's umbrella, with the Invensys name gradually phased out in favor of branding to streamline market presence and customer experience. For instance, the Triconex safety instrumented systems, originally from Invensys, were incorporated into EcoStruxure Triconex Safety Systems, enhancing IIoT-enabled safety functionalities for process industries such as oil and gas and chemicals. Between 2014 and 2025, significant enhancements were made to Invensys-derived technologies, particularly in software and . Wonderware operations management software, acquired through Invensys, evolved through partnerships and subsequent integrations, including cloud-based capabilities via 's Development Studio, which provides subscription-based operational control in the cloud. In 2017, combined its software business with , further advancing these tools for , and by 2023, Schneider completed full acquisition of , solidifying cloud integrations for real-time data analytics and remote monitoring. These developments contributed to 's overall growth, with the company's consolidated revenue reaching €35.9 billion in 2023, bolstered by expanded industrial and software segments that trace roots to Invensys innovations. The integration has had a lasting impact on the industrial sector, particularly through advancements in digital twins and . Invensys technologies, such as those in EcoStruxure, enable replicas of physical assets for simulation and optimization, reducing downtime and improving efficiency in manufacturing and energy sectors. Additionally, early adoption of standards like OPC UA in Invensys' Triconex systems has influenced in , allowing seamless exchange across diverse equipment and promoting industry-wide adoption of secure, platform-independent communications. As of 2025, the Invensys brand exists primarily as a legacy reference, with all active products and services operating under Schneider Electric or AVEVA branding. Schneider continues to provide ongoing support for legacy Invensys systems, including maintenance for installed bases like Network 8000 controls, ensuring continuity for existing customers while encouraging migration to modern EcoStruxure solutions. This sustained support underscores the enduring value of Invensys' contributions to Schneider's leadership in energy management and automation.

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