AVEVA and OSIsoft have announced an agreement for AVEVA to acquire OSIsoft for $5.0 billion. The two 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, they note.
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 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, according to the partners. 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 floodgates to new opportunities which will accelerate the delivery of our digitization vision. 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. 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."
