Aveva acquires OSIsoft for $5 billion

Aveva, an engineering and industrial software company, has announced the successful acquisition of OSIsoft, a realtime industrial data software and services company. The acquisition agreement was initially announced in August 2020. Aveva says the acquisition will enhance the ability of the company to accelerate the digital transformation of the industrial world.

Covid-19 caused unprecedented disruptions in almost all industrial processes. Aveva CEO, Craig Hayman recognizes the opportunity that comes with disruption. He says OSIsoft acquisition will help Aveva drive the agility their customers need to shape sustainable industries in the future. Aveva says that ‘Performance Intelligence’ connects the power of information and artificial intelligence with human insight. The ultimate goal of the combined company will be to empower human intelligence to drive sustainable performance. Aveva plans to achieve this vision with performance intelligence.

The company blog post about the acquisition follows:

Aveva & OSIsoft combine to accelerate the digital transformation of the industrial world

Aveva has reached an agreement to acquire OSIsoft, a pioneer and global leader in real-time industrial operational data software and services. This transformative deal for Aveva , strengthens our position as a global leader in engineering and industrial software.

Aveva and OSIsoft will combine to help customers in industrial and essential organizations accelerate their digital transformational strategies by driving greater efficiencies, lower costs, deeper data-driven insights, sustainability and business resilience.

Together, Aveva and OSIsoft can provide full stack end-to-end solutions that span edge, plant, and enterprise deployments. 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 a foundation of customer centricity and world-class talent. In addition to sharing a complementary solutions portfolio, this transaction further validates Aveva’s leading position in digital transformation and the industrial internet of things.

Aveva and OSIsoft have complementary product offerings which will allow the combined company to generate significant value for shareholders by creating new opportunities for innovation using new and emerging technologies. The two software portfolios are source-agnostic and interoperable; 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 a broader, deeper scale and scope to lead the digital transformation of the industrial sector, the combined company can drive greater sustainable efficiencies for many diverse essential industries, including consumer packaged goods (CPG), pharmaceutical, water and wastewater, and utilities, creating strengthened product offerings.