AVEVA clinches $5bn deal for Californian business
Closing a deal flagged by Business Weekly on August 8, Cambridge UK industrial software company AVEVA has agreed terms for the $5 billion acquisition of OSIsoft, a California-based global leader in real-time industrial data software and services.
AVEVA and OSIsoft say they will combine their complementary product offerings, uniting industrial software and data management to help customers in industrial and essential organisations accelerate their digital transformational strategies.
San Leandro-based 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.
The acquisition 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.
Together, AVEVA and OSIsoft say they 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, the companies 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.
As well as sharing a complementary solutions portfolio, this transaction further validates AVEVA’s leading position in digitisation and IIoT. OSIsoft’s PI System 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.
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.
The complementary product offerings of AVEVA and OSIsoft will allow the combined company to continue to generate significant value for its stakeholders by creating new opportunities for innovation using new and emerging technologies.
The two product suites are open and interoperable, and many customers leverage both solution sets today. As a combined entity, AVEVA and OSIsoft can further deliver on their sustainability goals, driving significant benefits and value for their customers.
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 , pharmaceutical, water and wastewater, and utilities, creating strengthened product offerings.
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.”