OSIsoft’s data management software will complement AVEVA’s comprehensive 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. In addition to sharing a complementary solutions portfolio, this transaction further validates AVEVA’s leading position in digitization and IIoT. AVEVA and OSIsoft will combine their complementary product offerings, bringing together industrial software and data management to help customers in industrial and essential organizations accelerate their digital transformational strategies as efficiency, flexibility, sustainability and resilience become increasingly urgent requirements for customers. AVEVA CEO Craig Hayman talks to Bloomberg following the company’s latest $5bn acquisition of software-backed company OSIsoft. Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. AVEVA and OSIsoft Combine Accelerating Digital Transformation of Industrial World. OSIsoft’s PI System enables customers to collect, normalize, store, and stream real-time, high-fidelity operational data to applications, analytics, and AI and ML platforms. PI System acts as a single system of record for operations data, designed for massive cloud-enabled scale and data sharing across enterprises, and enables insightful operations decision making. Software company Aveva Group has announced that the proposed acquisition of OSIsoft, which manufactures application software for real-time data management, was approved at its annual general meeting on 24 November. AVEVA and OSIsoft have announced an agreement for AVEVA to acquire OSIsoft for $5.0 billion. Aug 10, 2020 | Hot Topics It’s been rumored for a while that Schneider Electric is thinking about acquiring OSIsoft; today AVEVA said in a press release that it was in talks for the deal. Aveva on Tuesday said it was "capitalising on the technological megatrends that are driving digital transformation of the industrial world. In November, Aveva said it planned to raise GBP2.84 billion through a rights issue of shares, which will go towards the USD5.0 billion acquisition of OSIsoft. In November, Aveva said it planned to raise GBP2.84 billion through a rights issue of shares, which will go towards the USD5.0 billion acquisition of OSIsoft. With broader, deeper scale and scope to lead the digital transformation of the industrial sector, the combined company will drive greater efficiencies and sustainability for many diverse essential industries, including consumer packaged goods (CPG), pharmaceutical, water and wastewater, and utilities, creating strengthened product offerings. Senior Director, PR and External Relations AVEVA CEO Craig Hayman talks to Bloomberg following the company’s latest $5bn acquisition of software-backed company OSIsoft. In the meantime, try one of these options: How to Get Your Kids Investing in the Stock Market. Shares in Aveva were up 1.2% at 3,202.00 pence in London on Wednesday. By Zoe Wickens; [email protected] Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. The resolution on the proposed acquisition was voted for by 99.996% of the shareholders who voted. Appears they were successful: AVEVA just announced that it has reached agreement on the terms of an acquisition of OSIsoft at an enterprise value of $5.0 billion. This transformative deal for AVEVA, strengthens our position as a global leader in engineering and industrial software. The FTSE 100 industrial software specialist agreed the deal in August, in November unveiled a fully underwritten GBP2.8bn rights issue, and last month said with almost all regulatory approvals given, the purchase … OSIsoft performed strongly in the seven months ended 31 July 2020 with revenue increasing by 9.5% compared to the seven months ended 31 July 2019, and adjusted EBIT and operating cash flow increasing by 110.1% and 33.3%, respectively. Emily Claffey / Ben Spicehandler / Tori Goodell AVEVA and the AVEVA logo are a trademark or registered trademark of AVEVA Group plc in the U.S. and other countries. Aveva on Tuesday said it was "capitalising on the technological megatrends that are driving digital transformation of the industrial world. Industrial software giant AVEVA has plans to grow OSIsoft’s cloud-based Industrial IoT (IIOT) offering after agreeing a $5 billion takeover of the American firm. In a $5 billion deal, engineering and industrial software company AVEVA has agreed to acquire OSIsoft, maker of the PI System, which is a market-leading operational data software solution. Building Stakeholder Value and Improving Sustainability. Cambridge Tel: +1 (212) 687-8080 Madingley Road © 2021 - Everyday Trade News. Aveva has announced a £2.84bn rights issue to partly fund its acquisition of US software group OSIsoft. Shares in the organisation fell by 2% after the announcement. By Rick Rys Category: Acquisition or Partnership OSIsoft started out in 1980 by building advanced control software for refineries. The acquisition of OSIsoft could put the new, larger AVEVA in better standing since it will combine their respective customer bases and their total assets. We're sorry, but we can't find the page you were looking for. AVEVA is headquartered in Cambridge, UK, with over 4,400 employees at 80 locations in over 40 countries. Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. It's probably some thing we've done wrong but now we know about it and we'll try to fix it. Aveva Group Plc is in advanced talks to acquire industrial software maker OSIsoft LLC for about $5 billion, according to people familiar with the matter. All Rights Reserved. The $22,000 Mark for Bitcoin Has Been Achieved! Software giant Aveva merges with OSIsoft in multi-billion dollar deal By Sead Fadilpašić 25 August 2020 Acquisition will bring together 'complementary product offerings'. As a combined entity, AVEVA and OSIsoft can further deliver on their sustainability goals, driving significant benefits and value for their customers. AVEVA Group plc ("AVEVA" or the "Company"), a global leader in industrial software, announces that it has reached agreement on the terms of an acquisition of OSIsoft (the "Acquisition"), at an enterprise value of $5.0 billion. AVEVA’s $5 Billion OSIsoft Acquisition Reshapes The Industrial Software Landscape Craig Hayman, AVEVA’s CEO, today dropped the bombshell news on the industrial software market that his firm – with the backing of its majority shareholder Schneider Electric – has acquired OSIsoft for a cool $5 billion . Billionaire’s Son Loses $50 Million Trying to Day…. Aveva AVV, -0.75% said it's buying OSIsoft for $5 billion in a mostly cash deal to expand its position in industrial software. AVEVA’s Proposed Acquisition of OSIsoft AVEVA and OSIsoft to Accelerate the Digital Transformation of the Industrial World 25 August 2020 Craig Hayman, CEO Aveva has agreed to acquire OSIsoft, its SoftBank-backed US rival, in a $ 5 billion buyout which is one of the largest deals ever by a UK tech company.Cambridge-based Aveva is one of Britain’s oldest technology companies, having split from Cambridge University in the 1960s. 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 agreement will enable our customers to improve business processes as well as eliminate inefficiencies. Software company Aveva Group has announced that the proposed acquisition of OSIsoft, which manufactures application software for real-time data management, was approved at its annual general meeting on 24 November. AVEVA’s OSIsoft Acquisition Reshapes The Industrial Software Landscape Source: OSIsoft.com LONDON, UK and SAN LEANDRO, California - 25th August 2020 - AVEVA, a global leader in industrial software, and OSIsoft, a global leader in real-time industrial data software and services, have announced an agreement for AVEVA to acquire OSIsoft for $5.0 billion. Digitalization Stack Buildout: AVEVA Acquires OSIsoft . Aveva has agreed to acquire OSIsoft, its SoftBank-backed US rival, in a $5bn takeover that is one of the largest deals struck by a UK technology company. AVEVA’s Acquisition of OSIsoft Will Provide New Opportunities for Data to Drive Digital Transformation. As part of this acquisition, Aveva will combine OSIsoft ’s products with its own. On Tuesday, it was announced that Aveva, the Cambridge, U.K.-based industrial and predictive analytics software company that is majority-owned by European multinational Schneider Electric, has agreed to pay $5 billion to purchase all of OSISoft. 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 realize the full benefits of this transaction.”, This is an abbreviated press release. For further details about this announcement, please refer to the Regulatory News Service at: https://investors.aveva.com/. Together, AVEVA and OSIsoft can provide full-stack solutions that span edge, plant, and enterprise deployment models, strengthening AVEVA’s position as a global leader in industrial software. With a combined 93 years of operating expertise and experience, they share a history of meeting the rapidly changing and evolving needs of their industrial customers, built on foundations of customer centricity and world-class talent. MDT Holdings, Inc. (“Mitsui”), a company owned by Mitsui Group. The company’s engineering, planning and operations, asset performance, and monitoring and control solutions deliver proven results to over 16,000 customers across the globe. Aveva AVV, -0.75% said it's buying OSIsoft for $5 billion in a mostly cash deal to expand its position in industrial software. Part of French group Schneider Electric, Aveva said the purchase would allow the British company "to accelerate the market adoption and expansion of OSIsoft Cloud Services and other cloud-based offerings". OSIsoft works with over 1,000 of the world’s leading power and utilities companies, 38 of the Global Fortune Top 40 oil and gas companies, all of the Global Fortune Top 10 metals and mining companies, 37 out of 50 of the world's largest chemical and petrochemical companies and 9 out of 10 of the Global Fortune Top 10 pharmaceutical companies. All Rights Reserved. LONDON, UK and SAN LEANDRO, California – 25th August 2020 – AVEVA, a global leader in industrial software, and OSIsoft, a global leader in real-time industrial data software and services, have announced an agreement for AVEVA to acquire OSIsoft for $5.0 billion. AVEVA Group Plc, the British industrial software firm, has agreed to buy OSIsoft in a deal that gives the California-based company an enterprise value of $5 billion. Acquisition or Partnership OSIsoft started out in 1980 by building advanced control software for refineries. AVEVA and OSIsoft Combine Accelerating Digital Transformation of Industrial World. OSIsoft’s market-leading PI System is the proven system of record for operational data in essential industries: power generation and utilities, water, oil and gas, mining, manufacturing, pharmaceutical, facilities, transportation, and more. Aveva Group PLC’s agreed US$5bn acquisition of data management software firm OSIsoft has inspired UBS and Invetec to both upgrade to a ‘buy’ recommendation on the shares.. AVEVA has reached agreement to acquire OSIsoft, a pioneer and global leader in real-time industrial operational data software and services. The acquisition … Remember how AVEVA said it was in talks to acquire OSISoft? [email protected], AVEVA Group plc The UK software company's acquisition of the data management firm was announced in August. Aveva gets upgraded by UBS and Investec on potential from OSIsoft acquisitionAveva Group PLC's (LON:AVV) agreed US$5bn acquisition of data OSIsoft performed strongly in the seven months ended 31 July 2020 with revenue increasing by 9.5% compared to the seven months ended 31 July 2019, and adjusted EBIT and operating cash flow increasing by 110.1% and 33.3%, respectively. The two product suites are open and interoperable, and many customers leverage both solution sets today. Terms and Conditions. In a $5 billion deal, engineering and industrial software company AVEVA has agreed to acquire OSIsoft, maker of the PI System, which is a market-leading operational data software solution. Aveva intends to raise $3.7bn via a rights issue in order to fund its buyout of Softbank-backed OSIsoft. Aug. 25, 2020 - Industrial Software company AVEVA announced the acquisition of OSIsoft famous for the PI Historian for the purchase price of $5 billion expanding the company’s digitalization offerings. Lots more detail to come but here’s what we know now: AVEVA intends to finance the acquisition by issuing $0.6 billion in Ordinary Shares and using $4.4 billion in cash. OSIsoft's J. Patrick Kennedy. Its customers are supported by the largest industrial software ecosystem, including 4,200 partners and 5,700 certified developers. AVEVA Group plc (LON:AVV), a global leader in industrial software, announces that it has reached agreement on the terms of an acquisition of OSIsoft, at an enterprise value of $5.0 billion.. Under terms of the deal, Aveva will acquire 100% of OSISoft, valuing the company at 32.9x trailing twelve-month enterprise value to EBIT, which is broadly in line with AVEVA’s own multiple. AVEVA Group plc (LON:AVV), a global leader in engineering and industrial software, has provided an update on the debt financing relating to its proposed acquisition of OSIsoft announced on 25 August 2020.. Syndication of the £250 million revolving credit facility has now successfully completed with HSBC and Santander joining J.P. Morgan, Barclays and BNP Paribas as providers of this facility. Double Digit Returns on Friday – Did You…, Americans Are Drowning in DEBT More Than Ever…. In 2019, OSIsoft held $96.3M (£72.6M) in cash and cash equivalents and $1.26B (£0.95B) in total assets, while AVEVA held … Rights issue to partly fund its acquisition of software-backed company OSIsoft customers are supported the... Multi-Billion dollar deal by Sead Fadilpašić 25 August 2020 acquisition will bring together 'complementary product offerings ' talks to following! Are open and interoperable, and many customers leverage both solution sets.! 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