aveva osisoft acquisition

For further details about this announcement, please refer to the Regulatory News Service at: https://investors.aveva.com/. . Its customers are supported by the largest industrial software ecosystem, including 4,200 partners and 5,700 certified developers. 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. . So why do this? Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. AVEVA has reached agreement to acquire OSIsoft, a pioneer and global leader in real-time industrial operational data software and services. 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 digitization vision. Software giant Aveva merges with OSIsoft in multi-billion dollar deal By Sead Fadilpašić 25 August 2020 Acquisition will bring together 'complementary product offerings'. AVEVA’s Proposed Acquisition of OSIsoft AVEVA and OSIsoft to Accelerate the Digital Transformation of the Industrial World 25 August 2020 Craig Hayman, CEO In 2019, OSIsoft held $96.3M (£72.6M) in cash and cash equivalents and $1.26B (£0.95B) in total assets, while AVEVA held … Aveva agreed a £250m credit facility with its banks and a $900m term loan from Scheider in August to help fund the OSIsoft acquisition. OSIsoft’s technology is well established in the process industry, but the market is far from saturated, with plenty of room for growth in chemical; oil; gas; paper; pharmaceuticals; food; and power generation, transmission, and distribution. Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. . In addition, the pandemic has stimulated people’s thinking about opportunities that can be unlocked through digitalization. Aveva, 60% owned by Schneider Electric, has integrated much of the French industrial … AVEVA and OSIsoft Combine Accelerating Digital Transformation of Industrial World. The Acquisition will strengthen AVEVA’s position as a global leader in industrial software, with combined pro forma revenue of c.£1.2 billion. In November, Aveva said it will pay USD5.0 billion for the acquisition of OSIsoft. The acquisition was described as a transformative transaction for the next phase of AVEVA’s journey, strengthening AVEVA’s position as one of the leading "independent" industrial software companies powering Industry 4.0. OSIsoft's J. Patrick Kennedy. $0.9 billion from existing cash on balance sheet and new debt facilities, resulting in pro forma net leverage of 1.9x FY20 EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the Enlarged Group. The acquisition is expected to close in late 2020 or early 2021. 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. This acquisition will send shockwaves through the industrial software market. 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 … 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. As part of this acquisition, Aveva will combine OSIsoft ’s products with its own. 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. 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. The company said regulatory and … “Customers are driving for bigger and bigger scope. All Rights Reserved. $0.6 billion share consideration to be issued to Estudillo Holdings Corp. resulting in Dr. J. Patrick Kennedy owning over 4% of the enlarged company. 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. As a combined entity, AVEVA and OSIsoft can further deliver on their sustainability goals, driving significant benefits and value for their customers. How will the AVEVA acquisition help OSIsoft grow? Building Stakeholder Value and Improving Sustainability. I see us becoming a very, very open infrastructure making more data available for more applications.” . Enterprise value of $5.0 billion on a cash-free, debt-free basis and on the basis of a normalized level of working capital at completion. AVEVA is headquartered in Cambridge, UK, with over 4,400 employees at 80 locations in over 40 countries. 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. AVEVA, the industrial software company, announced on August 25, 2020, its intention to acquire OSIsoft from Dr. J. Patrick Kennedy and OSIsoft investors, including SoftBank, for $5 billion. 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. . 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. “What I see happening is we will never converge to a single turnkey system for everybody, what we have to do is accommodate everybody because there are hundreds of companies.”  He described how based on his many years’ experience the basic tenant is greater value is achieved by increasing the scope of the data and users are embracing this. High Cross Acquisition of OSIsoft, LLC 07:00:05 25 Aug 2020 - AVEVA GROUP PLC - News article - Regulatory News Service The hybrid AVEVA/Schneider Electric relationship is intriguing, and with the addition of OSIsoft provides another valuable dimension. Learn why two-thirds of Global Fortune 500 industrial organizations choose PI System at www.osisoft.com, Rose Bambi . Data has been enabling organizations to more effectively determine the cause of problems by allowing them to visualize what is happening in different locations, departments and systems. . Emily Claffey / Ben Spicehandler / Tori Goodell AVEVA and OSIsoft will combine their complementary product offerings, bringing together industrial software and data management capabilities. If I have a tissue machine and I want something looking for flaws in that tissue I’m going to use cameras, we have to work with companies familiar with cameras and image processing.” He punctuated this by adding there are growing application areas including synchronous phasers, LIDAR, and other technologies. The opportunity here that the new venture we have with OSIsoft gives us the ability to give customers solutions that can never have dreamt of some years ago.”. 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.. This builds upon the 2018 merger of Schneider Electric’s industrial software business, including Wonderware, into AVEVA. This transformative deal for AVEVA, strengthens our position as a global leader in engineering and industrial software. It doesn’t make any sense to build turbines that don’t have an embedded historian and data collection.”  Kennedy added, “The limit were going to hit is the ability of people to maintain the software. 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. Those in the meeting expressed their thoughts and approach for accomplishing edge to enterprise & cloud digitalization driven by industry 4.0 and Industrial Internet of things concepts and technologies. Combined Product Offering to Support Customers in Optimizing Operations, Driving Sustainability and Creating Greater Value. Another part of the discussion was the pandemic that has exposed a number of problems and issues that can be solved with digitalization. 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. The board saw this as strategically the right combination with OSIsoft to not only collect the information but store and develop it. . Check out our free e-newsletters to read more great articles.. ©2020 Automation.com, a subsidiary of ISA, A subsidiary of the International Society of Automation. In 2017, SoftBank’s Vision Fund bought out the VC investors but Mitsui held onto its shares until AVEVA came knocking. This agreement will enable our customers to improve business processes as well as eliminate inefficiencies. Today’s announcement is the culmination of a thoughtful search for a respected organization that would mesh with our own strong mission- and customer-driven culture. Circular and Prospectus to approve the transaction and launch the proposed rights issue expected in October or early November 2020, Closing at or around the end of the calendar year. Craig Hayman’s final comment on the integration from edge to enterprise and cloud is that there will be more information after the deal closes. Anti-Slavery and Human Trafficking Statement, Estudillo Holdings Corp. (“Estudillo”), a company majority owned by Dr. J. Patrick Kennedy and his family, SB/OSI, Inc. (“SoftBank”), a company owned by SoftBank Group; and. At the time of the acquisition, OSIsoft employed approximately 1,400 people and had annual revenues of around $400 million. AVEVA Group PLC, 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. . Philip Aiken: “Coming as a customer from the oil & gas and mining industry there has been incredible growth over the last few years of more and more data being available to run operations," Aiken explained. Craig Hayman: “The industrial sector as compared to other industries has very low amounts of digital technology deployed as compared to other areas such as retail or financial services." 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. 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