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Starting with a $5 billion deal, commercial software and engineering company AVEVA agreed to acquire OSIsoft, the manufacturer of PI System, a market-leading operational knowledge software solution.
“The combination of AVEVA and OSIsoft is another vital step in our quest to achieve the ambitious expansion goals we have set ourselves,” Craig Hayman, CEO of AVEVA, founded in Cambridge, UK, said in a statement. “This will not only better serve existing customers, but will also open the door to new opportunities that will drive the realization of our vision of digitization.”
OSIsoft was founded in October 1980 through Dr. J. Patrick Kennedy, who remains the company’s chief executive. It was originally known as Oil Systems Inc. The first version of the company IP System, which meant “Plant Information System”, debuted in 1985. Today, OSIsoft reports that the formula is used on more than 19,000 sites worldwide, which adds a lot of strength. Plants.
According to the company, PI System consumers must collect, standardize, purchase, and disseminate high-fidelity, real-time operational knowledge to applications, analytics, synthetic intelligence, and device learning platforms. PI System acts as an exclusive registration formula for operational knowledge, designed for large scale and knowledge sharing between companies, and enables informed business decision making, the company says.
OSIsoft claims to have paints with more than 1,000 of the world’s largest force and utilities, 38 of Global Fortune’s 40 largest oil and fuel companies, all Global Fortune 10 mining and metallurgical companies, 37 of the world’s 50 largest chemical and petrochemical companies. and Fortune’s 10 global pharmaceutical companies. OSIsoft is headquartered in San Leandro, California, and has approximately 1,400 employees.
AVEVA says its engineering, plan and operations development, asset functionality and tracking and responses are used through more than 16,000 consumers worldwide. It operates in various markets, mainly in the process, batch and hybrid industries. The company says its software solution portfolio spans the entire business lifecycle of many of the world’s leading industries. AVEVA has more than 4,400 workers in 80 locations in more than 40 countries.
“Joining forces with AVEVA complements and expands our ability to meet our key commitments to our customers, partners and employees,” Kennedy said in a statement. “Together, we will be better able to serve the largest virtual transformation projects in history, adding Industry 4.0 and IIoT [The Internet of Industrial Things]. AVEVA’s interest in OSIsoft is a testament to our talented team and the regular price of the PI System as a real-time uninterrupted knowledge infrastructure that drives the commercial world.”
AVEVA expects OSIsoft’s knowledge control software to complement its own comprehensive engineering, operation, and end-to-end functionality offerings. “The integration of OSIsoft’s PI System into AVEVA’s comprehensive software portfolio will create a built-in knowledge base that can generate data on Big Data, Cloud and AI to create meaningful business effects for customers,” the company said.
“Today’s announcement is the culmination of a considered search for a respectable organization that is compatible with our own project and consumer culture,” Kennedy said august 25. “The upcoming bankruptcy of the fifth decade of IP will be exciting for our employees. »
“Knowledge has enabled organizations to better identify the cause of the disorders by allowing them to visualize what is happening in other locations, facilities, and systems. This agreement will allow our consumers to conduct business processes and eliminate inefficiencies. We are incredibly proud to move to the next bankruptcy with an even more powerful portfolio of responses and a strong and constantly growing visitor base that continues to make us leaders in our industry,” Hayman said.
OSIsoft is owned by 3 shareholders: Estudillo Holdings Corp., a majority company owned by Kennedy and his family; SB /OSI Inc., a company owned by SoftBank Group; and MDT Holdings Inc., a company owned by Mitsui Group. The acquisition requires the approval of AVEVA shareholders, who are expected to vote on the transaction at an ordinary general meeting. It also calls for regulatory approvals of countries, adding the United States.
Aaron Larson is the editor-in-chief of POWER (@AaronL_Power, @POWERmagazine).
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