aveva osisoft acquisition

On Tuesday, it was announced that Aveva, the Cambridge, U.K.-based industrial and predictive analytics software company that is majority-owned by European multinational Schneider Electric, has agreed to pay $5 billion to purchase all of OSISoft. All Rights Reserved. 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. 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. Its customers are supported by the largest industrial software ecosystem, including 4,200 partners and 5,700 certified developers. The Acquisition will strengthen AVEVA’s position as a global leader in industrial software, with combined pro forma revenue of c.£1.2 billion. Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. Aveva AVV, -0.75% said it's buying OSIsoft for $5 billion in a mostly cash deal to expand its position in industrial software. 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. Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. (Schneider Electric owns most of AVEVA.) 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. 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. AVEVA’s Proposed Acquisition of OSIsoft AVEVA and OSIsoft to Accelerate the Digital Transformation of the Industrial World 25 August 2020 Craig Hayman, CEO Lots more detail to come but here’s what we know now: AVEVA intends to finance the acquisition by issuing $0.6 billion in Ordinary Shares and using $4.4 billion in cash. 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. Software company Aveva Group has announced that the proposed acquisition of OSIsoft, which manufactures application software for real-time data management, was approved at its annual general meeting on 24 November. © 2021 - Everyday Trade News. In November, Aveva said it planned to raise GBP2.84 billion through a rights issue of shares, which will go towards the USD5.0 billion acquisition of OSIsoft. Digitalization Stack Buildout: AVEVA Acquires OSIsoft . 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. Remember how AVEVA said it was in talks to acquire OSISoft? 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. The two product suites are open and interoperable, and many customers leverage both solution sets today. The acquisition … Lots more detail to come but here’s what we know now: AVEVA intends to finance the acquisition by issuing $0.6 billion in Ordinary Shares and using $4.4 … 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. We're sorry, but we can't find the page you were looking for. Shares in the organisation fell by 2% after the announcement. Madingley Road 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. 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. For further details about this announcement, please refer to the Regulatory News Service at: https://investors.aveva.com/. The resolution on the proposed acquisition was voted for by 99.996% of the shareholders who voted. Appears they were successful: AVEVA just announced that it has reached agreement on the terms of an acquisition of OSIsoft 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. 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. Cambridge, U.K.-based Aveva announced it will acquire California-based Osisoft for $5 billion. 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. Aveva, one of Britain’s oldest technology groups, is set to raise £2.8bn in a rights issue to help fund the $5bn acquisition of OSIsoft, its SoftBank-backed US rival. Aveva gets upgraded by UBS and Investec on potential from OSIsoft acquisitionAveva Group PLC's (LON:AVV) agreed US$5bn acquisition of data It’s been rumored for a while that Schneider Electric is thinking about acquiring OSIsoft; today AVEVA said in a press release that it was in talks for the deal. Aug 10, 2020 | Hot Topics It’s been rumored for a while that Schneider Electric is thinking about acquiring OSIsoft; today AVEVA said in a press release that it was in talks for the deal. AVEVA’s OSIsoft Acquisition Reshapes The Industrial Software Landscape Source: OSIsoft.com 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, -0.75% said it's buying OSIsoft for $5 billion in a mostly cash deal to expand its position in industrial software. Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. All Rights Reserved. Aveva Group PLC’s agreed US$5bn acquisition of data management software firm OSIsoft has inspired UBS and Invetec to both upgrade to a ‘buy’ recommendation on the shares.. Cambridge 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. 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. According to documentation from Aveva, the acquisition will be funded through a combined rights issue, cash on balance sheet, new debt facilities and ordinary share issuance. Aveva intends to raise $3.7bn via a rights issue in order to fund its buyout of Softbank-backed OSIsoft. Billionaire’s Son Loses $50 Million Trying to Day…. This transformative deal for AVEVA, strengthens our position as a global leader in engineering and industrial software. 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. In 2019, OSIsoft held $96.3M (£72.6M) in cash and cash equivalents and $1.26B (£0.95B) in total assets, while AVEVA held … (Schneider Electric owns most of AVEVA.) 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. AVEVA has agreed an acquisition of OSIsoft at an enterprise value of … Tel: +1 (212) 687-8080 This agreement will enable our customers to improve business processes as well as eliminate inefficiencies. AVEVA has reached agreement to acquire OSIsoft, a pioneer and global leader in real-time industrial operational data software and services. 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.. AVEVA’s $5 Billion OSIsoft Acquisition Reshapes The Industrial Software Landscape Craig Hayman, AVEVA’s CEO, today dropped the bombshell news on the industrial software market that his firm – with the backing of its majority shareholder Schneider Electric – has acquired OSIsoft for a cool $5 billion . [email protected], AVEVA Group plc Software giant Aveva merges with OSIsoft in multi-billion dollar deal By Sead Fadilpašić 25 August 2020 Acquisition will bring together 'complementary product offerings'. Building Stakeholder Value and Improving Sustainability. 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. AVEVA’s Acquisition of OSIsoft Will Provide New Opportunities for Data to Drive Digital Transformation. 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. OSIsoft performed strongly in the seven months ended 31 July 2020 with revenue increasing by 9.5% compared to the seven months ended 31 July 2019, and adjusted EBIT and operating cash flow increasing by 110.1% and 33.3%, respectively. 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. By Zoe Wickens; zoewickens@alliancenews.com AVEVA is headquartered in Cambridge, UK, with over 4,400 employees at 80 locations in over 40 countries. 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. As a combined entity, AVEVA and OSIsoft can further deliver on their sustainability goals, driving significant benefits and value for their customers. MDT Holdings, Inc. (“Mitsui”), a company owned by Mitsui Group. 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. The Schneider Electric and Life Is On trademarks are owned by Schneider Electric and are being licensed to AVEVA by Schneider Electric. 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. OSIsoft's J. Patrick Kennedy. Learn why two-thirds of Global Fortune 500 industrial organizations choose PI System at www.osisoft.com, Rose Bambi That cash will come from a rights issue of $3.5 billion and $0.9 billion of cash on balance sheet and new debt facilities. Done wrong but now we know about it and we 'll try to fix it both! 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