. "The amount of data coming in will continue to grow. . Aveva Group PLC agreed US$5bn acquisition of data management software firm OSIsoft has inspired UBS and Invetec to both upgrade to a ‘buy’ recommendations on the shares. MDT Holdings, Inc. (“Mitsui”), a company owned by Mitsui Group. The Schneider Electric industrial software business and AVEVA have merged to trade as AVEVA Group plc, a UK listed company. . 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. 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. 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 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. 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. So why do this? . 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. . This was discussed in a virtual meeting Aug. 25, 2020 with: Dr. J. Patrick Kennedy OSIsoft founder & CEO, Peter Herweck, Schneider Electric, Executive Vice President Industrial Automation and AVEVA Non-executive Director. The hybrid AVEVA/Schneider Electric relationship is intriguing, and with the addition of OSIsoft provides another valuable dimension. How will the AVEVA acquisition help OSIsoft grow? “Customers are driving for bigger and bigger scope. Aveva, 60% owned by Schneider Electric, has integrated much of the French industrial … 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 (CPG), pharmaceutical, water and wastewater, and utilities, creating strengthened product offerings. Acquisition of OSIsoft, LLC 07:00:05 25 Aug 2020 - AVEVA GROUP PLC - News article - Regulatory News Service Automation & IIoT; Aveva Acquires Osisoft: Deal Accelerates Industrial Enterprise Digitalization. [email protected], AVEVA Group plc “Aveva and OSIsoft 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,” the companies said in a statement. The acquisition of OSIsoft could put the new, larger AVEVA in better standing since it will combine their respective customer bases and their total assets. In addition, the pandemic has stimulated people’s thinking about opportunities that can be unlocked through digitalization. In 2017, SoftBank’s Vision Fund bought out the VC investors but Mitsui held onto its shares until AVEVA came knocking. . 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. AVEVA and OSIsoft will combine their complementary product offerings, bringing together industrial software and data management capabilities. "It’s not set by the data being in particular DCS, a multiplexer or other device.”  Aveva has agreed to acquire OSIsoft, its SoftBank-backed US rival, in a $ 5 billion buyout which is one of the largest deals ever by a UK tech company.Cambridge-based Aveva is one of Britain’s oldest technology companies, having split from Cambridge University in the 1960s. Aveva agreed a £250m credit facility with its banks and a $900m term loan from Scheider in August to help fund the OSIsoft acquisition. Aveva has agreed to acquire OSIsoft, its SoftBank-backed US rival, in a $5bn takeover that is one of the largest deals struck by a UK technology company. “We started writing interfaces 40 years ago and 1/3 of our development is still interfaces," he said. $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. 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. 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. 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. AVEVA and OSIsoft Combine Accelerating Digital Transformation of Industrial World. . 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. . AVEVA Group plc (LON:AVV), a global leader in engineering and industrial software, has provided an update on the debt financing relating to its proposed acquisition of OSIsoft announced on 25 August 2020.. Syndication of the £250 million revolving credit facility has now successfully completed with HSBC and Santander joining J.P. Morgan, Barclays and BNP Paribas as providers of this facility. AVEVA, a global leader in industrial software, and OSIsoft, a global leader in real-time industrial data software and services, announced an agreement for AVEVA to acquire OSIsoft for $5.0 billion. This was discussed in a virtual meeting Aug. 25, 2020 with: Craig Hayman, AVEVA CEO 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. 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. Another part of the discussion was the pandemic that has exposed a number of problems and issues that can be solved with digitalization. I see us becoming a very, very open infrastructure making more data available for more applications.” The board saw this as strategically the right combination with OSIsoft to not only collect the information but store and develop it. 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. By Zoe Wickens; zoewickens@alliancenews.com He continued, “Yes, there will be distributed historians they will be in the fork lifts, cars, machines. Peter Herweck: “I am a fan of decoupling hardware and software because I believe for many years software will rule the world and automation and digitization," Herweck said. 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. OSIsoft is a business still run by its founder, and perhaps these rumors are about an exit (I KNOW NOTHING); if the current management won’t be around for long, it makes more sense to plug the acquisition into an existing, well-run business than to leave it alone, as Schneider is doing with RIB. Senior Director, PR and External Relations Learn why two-thirds of Global Fortune 500 industrial organizations choose PI System at www.osisoft.com, Rose Bambi Aveva Group Plc is in advanced talks to acquire industrial software maker OSIsoft LLC for about $5 billion, according to people familiar with the matter. The Schneider Electric and Life Is On trademarks are owned by Schneider Electric and are being licensed to AVEVA by Schneider Electric. Aveva, a supplier of industrial software and services, has agreed terms to acquire OSIsoft, a supplier of real-time industrial data software and services for $5 billion. Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. This acquisition will send shockwaves through the industrial software market. 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. 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. $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. Madingley Road OSIsoft’s data management software will complement AVEVA’s comprehensive end-to-end engineering, operations, and performance offerings. Combined Product Offering to Support Customers in Optimizing Operations, Driving Sustainability and Creating Greater Value. “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. Shares in Aveva were up 1.2% at 3,202.00 pence in London on Wednesday. OSIsoft is currently owned by three shareholders: AVEVA is a global leader in engineering and industrial software driving digital transformation across the entire asset and operations life cycle of capital-intensive industries. Terms and Conditions. The Acquisition will strengthen AVEVA’s position as a global leader in industrial software, with combined pro forma revenue of c.£1.2 billion. As part of this acquisition, Aveva will combine OSIsoft ’s products with its own. We don’t think that’s pragmatic because when you have to deploy a brand-new end to and platform you have to suspend all of human history where the world is naturally diverse in order to do that.”  Cambridge . The two product suites are open and interoperable, and many customers leverage both solution sets today. “One of the first considerations that Aviva had when it merged with Schneider Software was to give ourselves more bandwidth to operate cradle-to-grave, developing a project right through operations and maintenance. 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.. Emily Claffey / Ben Spicehandler / Tori Goodell 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. 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. Aveva AVV, +2.28% said it's buying OSIsoft for $5 billion in a mostly cash deal to expand its position in industrial software. Its customers are supported by the largest industrial software ecosystem, including 4,200 partners and 5,700 certified developers. For further details about this announcement, please refer to the Regulatory News Service at: https://investors.aveva.com/. There will be a lot more software generated to automatically spin up things like intelligent forklift, historian or whatever.”. Tel: +1 (212) 687-8080 The company said regulatory and … AVEVA and OSIsoft will combine their complementary product offerings, bringing together industrial software and data management to help customers in industrial and essential organizations … For more details visit: https://www.aveva.com/en/, For 40 years, the world’s most essential and complex industries have relied on OSIsoft to manage the lifeblood of the industrial enterprise: operational data. In 2019, OSIsoft held $96.3M (£72.6M) in cash and cash equivalents and $1.26B (£0.95B) in total assets, while AVEVA held … High Cross Schneider Electric has committed to vote in favor and subscribe on a pro rata basis. 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 and OSIsoft 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. He described how many companies outside of the industry have come in and said, “Behold, I have a platform, my edge to IT, OT convergence architecture is all singing and dancing subscribe to my point of view and all will be right in the world. In November, Aveva said it will pay USD5.0 billion for the acquisition of OSIsoft. Schneider Electric took 60% ownership of the Enlarged AVEVA Group at that time and Schneider Electric has a role in the AVEVA acquisition of OSIsoft. At the time of the acquisition, OSIsoft employed approximately 1,400 people and had annual revenues of around $400 million. 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. 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." 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. 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. 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. 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. Every day, industrial professionals in 127 countries rely on PI System to improve operational performance, protect health and safety, keep the lights on, and make the world run more smoothly. Software giant Aveva merges with OSIsoft in multi-billion dollar deal By Sead Fadilpašić 25 August 2020 Acquisition will bring together 'complementary product offerings'. 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. 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. Building Stakeholder Value and Improving Sustainability. AVEVA’s Proposed Acquisition of OSIsoft AVEVA and OSIsoft to Accelerate the Digital Transformation of the Industrial World 25 August 2020 Craig Hayman, CEO 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. OSIsoft’s PI System enables customers to collect, normalize, store, and stream real-time, high-fidelity operational data to applications, analytics, and AI and ML platforms. Under terms of the deal, Aveva will acquire 100% of OSISoft, valuing the company at 32.9x trailing twelve-month enterprise value to EBIT, which is broadly in line with AVEVA’s own multiple. 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. People are generating more data because they realize it creates more value for them.”  He described how hardware will be a means to implement distributed architectures with software at all levels including edge, on premises, enterprise, and cloud depending on customer performance and functional requirements to satisfy diverse needs. 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. This transformative deal for AVEVA, strengthens our position as a global leader in engineering and industrial software. StockMarketWire.com - Information technology company Aveva said it expected to receive regulatory approvals for its acquisition of OSIsoft over the … 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. The acquisition will add scale, support industry diversification and accelerate digitalization. Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. 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. The acquisition is expected to close in late 2020 or early 2021. 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. . All Rights Reserved. AVEVA has reached agreement to acquire OSIsoft, a pioneer and global leader in real-time industrial operational data software and services. “With that, it will be much easier to further interface all the software that’s done by the combination of AVEVA and OSIsoft and there’s going to be plenty of more data. CB3 0HB, UK, © 2020-2021 AVEVA Group plc and its subsidiaries. . Aveva to pay 5.7 times its 2019 revenue to make acquisition; Aveva’s acquisition of OSISoft will create a leader in asset data collection, storage and analysis. AVEVA is in turn 60% held indirectly by Schneider Electric. He continued, “We have a very different approach, yes have a system point of view but be open to interconnectivity between different systems.”  Hayman noted that he and Pat Kennedy have had very deep conversations about Aveva, OSIsoft, and Schneider as being a “Switzerland, a common ground.”, Dr. J. Patrick Kennedy: Pat Kennedy discussed that when his company started in the 1980s, there were companies that developed an entire business plan around one interface, and "because we were applications people, we couldn’t live with a single interface because the data you need for your particular function is set by physics," he explained. AVEVA is headquartered in Cambridge, UK, with over 4,400 employees at 80 locations in over 40 countries. 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