Aveva has reached an agreement to acquire OSIsoft for $5 billion.

 

In a statement, Aveva and OSIsoft said that they will combine their complementary product offerings, bringing together industrial software and data management to help customers in industrial and essential organisations accelerate their digital transformational strategies as efficiency, flexibility, sustainability and resilience become increasingly urgent requirements for customers.

 

OSIsoft’s data management software will complement Aveva’s end-to-end engineering, operations, and performance offerings. Integrating OSIsoft’s PI System into Aveva’s comprehensive software portfolio will create an integrated data foundation that can drive big data, Cloud and AI-driven insights to create meaningful business outcomes for customers. This combination enables Aveva to grow and diversify the industries it serves as well as continue to expand its footprint in existing and new markets and geographies.

 

Commenting on the agreement, Craig Hayman, CEO of Aveva, said: “Combining Aveva and OSIsoft is yet another significant milestone in our journey to achieving the ambitious growth goals that we have set. This will not only help us serve existing customers better but also open the flood gates to new opportunities which will accelerate the delivery of our digitisation vision. Data has been enabling organisations to more effectively determine the cause of problems by allowing them to visualise what is happening in different locations, departments and systems. This agreement will enable our customers to improve business processes as well as eliminate inefficiencies. We are extremely proud to be moving into the next chapter with an even stronger solutions portfolio as well as an ever-increasing and robust customer base which continues to make us leaders in our sector.”

 

OSIsoft founder and CEO Dr. J. Patrick Kennedy added: “Joining forces with Aveva enhances and extends our ability to deliver on our key commitments to our customers, partners and employees. Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. Aveva’s interest in OSIsoft is a testament to our talented team, and the extraordinary value of the PI System as the real-time streaming data infrastructure that powers the industrial world. Today’s announcement is the culmination of a thoughtful search for a respected organisation that would mesh with our own strong mission- and customer-driven culture. The next chapter in PI’s fifth decade will be exciting for our employees and customers, and I look forward to my continued involvement in my new role as the largest individual shareholder in the combined company and as Chairman Emeritus to ensure we realise the full benefits of this transaction.”