AVEVA, a global leader in engineering and industrial software, announced successful completion of the acquisition of OSIsoft. The acquisition enhances AVEVA’s ability to accelerate the digital transformation of the industrial world.
In August 2020, AVEVA and OSIsoft announced an agreement for AVEVA to acquire OSIsoft for $5.0 billion. AVEVA and OSIsoft will combine their complementary product offerings, bringing together industrial software and data management to help industrial organizations accelerate their digital transformational strategies as efficiency, flexibility, sustainability and resilience become increasingly urgent global requirements.
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 software portfolio will create an integrated data foundation that can help to drive big data, Cloud and AI-driven insights to create more meaningful business outcomes for its customers. 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.
Together, AVEVA and OSIsoft can provide full-stack solutions that span edge, plant, and enterprise deployment models, helping to strengthen AVEVA’s position as a leader in industrial software. With a combined 93 years of operating expertise and experience, both companies share a history of responding to the rapidly changing and evolving needs of industrial customers, built on the foundations of both company’s large installed bases and talented work forces. In addition to sharing a complementary solutions portfolio, this transaction helps to further validate AVEVA’s position in digitization and IIoT.
The complementary product offerings of AVEVA and OSIsoft will allow the combined company to continue to generate additional value for its stakeholders by creating new opportunities for innovation using new and emerging technologies. The two product suites are designed to be open and interoperable, and many industrial customers leverage both solution sets today. As a combined entity, AVEVA and OSIsoft can further deliver on their sustainability goals, helping to drive additional benefits and value for its customers. With a broader, deeper scale and scope to help accelerate the digital transformation of the industrial sector, the combined company will help to drive greater efficiencies and sustainability for many diverse industries, including consumer packaged goods (CPG), pharmaceutical, water and wastewater, and utilities, further strengthening its product offerings.
In connection with Completion, 13,655,570 ordinary shares of 3 5/9 pence each in the capital of the Company were allotted and issued to Estudillo Holdings LLC (‘Estudillo’) subject only to admission of the Consideration Shares to the premium listing segment of the Official List of the FCA and to trading on the London Stock Exchange’s main market for listed securities (‘Admission’).
Admission is expected to occur at 8.00 a.m. (GMT) on Monday, 22 March 2021. Following the allotment and issuance of the Consideration Shares, Estudillo, a company majority owned by Dr. J. Patrick Kennedy and his family, will hold a 4.5% shareholding in AVEVA.
Craig Resnick, ARC Advisory Group, commented, “As digital transformation has been greatly accelerated over the past year as a result of the pandemic, the need for real-time operations data that can be analyzed and deployed for applications, such as digital twin, augmented and virtual reality, artificial intelligence and machine learning has never been more critical to effectively and profitably run production operations from any location, as well as having real-time visibility, flexibility and agility of the supply chain . The combination of AVEVA and OSIsoft provides its users with an end-to-end suite of solutions that can greatly accelerate the digital transformation process by seamlessly integrating engineering, planning & operations, monitoring & control, and asset performance applications with the data management tools that provide its users with the flexibility and agility to maintain a competitive advantage in today’s new normal.”