The Lake Forest-based software development arm of Schneider Electric said it plans to acquire software development company MaxEAM in Burlington, Ontario, Canada. on undisclosed terms.

The buy is expected to expand Schneider Electric’s Avantis.PRO Enterprise Asset Management software that monitors clients’ computer networks to optimize performance.

Schneider Electric is an energy management, hardware, software and services company in Rueil-Malsaison, France, with clients in 100 countries and 160,000 employees firmwide. It employs an estimated 540 locally.

Schneider Electric reported revenue of €27 billion, or about $24.9 billion, for the year ended Dec. 31, 2015.