AVEVA is set to acquire real-time industrial data and software and services company, OSIsoft, for $US5 billion ($6.9 billion).
The two companies will combine their 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 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.
With a combined 93 years of operating expertise and experience, OSIsoft and AVEVA share a history of meeting the rapidly changing and evolving needs of their industrial customers, built on foundation of customer centricity and world-class talent.
AVEVA chief executive officer (CEO) Craig Hayman said combining the two companies is another milestone in its journey to achieving the growth goals it has 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,” Hayman said.
“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 Patrick Kennedy added that joining forces with AVEVA enhances and extends its ability to deliver the company’s key commitments to its 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,” Kennedy said.
Through OSIsoft’s PI System, it enables customers to collect, normalise, 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.