schneider aveva osisoft

all of the Global Fortune Top 10 metals and mining companies. It delivers aggregation and visualization of real-time sensor, actuator and control data in an open infrastructure to support best-of-breed ecosystems. 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 Group Plc has agreed to buy Osisoft in a deal that gives the SoftBank Group Corp.-backed industrial software maker an enterprise value of $5 billion. The acquisition will strengthen AVEVA’s position as a global leader in industrial software, whilst a combination of the complementary product offerings of AVEVA and OSIsoft is expected to allow the Enlarged Group to accelerate growth and continue to generate significant shareholder value.”, Craig Hayman, Chief Executive of AVEVA, said: “The acquisition of OSIsoft is perfectly in line with our strategic vision and it will accelerate the Enlarged Group’s role in the digitisation of the industrial world, which is being driven by a need for sustainability, the industrial internet of things, Cloud, data visualisation and artificial intelligence. Aveva’s last major deal was three years ago when France’s Schneider Electric took a 60% stake in the company. Shares in Aveva were up 3% in early trade and Aveva said Schneider Electric has committed to vote in favour of the deal and take part in the rights issue. AVEVA’s industrial software is a key element of Schneider Electric’s IoT-enabled architecture, EcoStruxure which will be further enhanced by OSIsoft’s PI System and its support for open infrastructure. AVEVA intends to establish retention agreements with key OSIsoft management and its founder, Dr. J. Patrick Kennedy, will be appointed to the new (non-Board) role of Chairman Emeritus. Founded in 1980 by Dr J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. Dr J. Patrick Kennedy, Founder and Chief Executive of OSIsoft, said: “Joining forces with AVEVA enhances and extends our ability to deliver on our key commitments to our customers, partners and employees. “OSIsoft’s PI System is a very scalable and robust enterprise level data historian platform, which will be a key enabler of a number of AVEVA solutions, in particular enhancing the Digital Twin, HMI/SCADA, Manufacturing Execution System and Asset Performance, with more inputs and connectivity to feed AI-infused and cloud-based solutions; AVEVA’s and OSIsoft’s solutions will combine to create a leading Industrial Internet of Things (IIoT) portfolio, which will continue to be platform and hardware agnostic, meaning that it will be able to communicate with diverse devices using different operating systems; the combined solution set will optimise engineering, operations and performance, with unprecedented efficiency and value as a result of the integration of both businesses; and, AVEVA will be able to accelerate the market adoption and expansion of OSIsoft Cloud Services (OCS) and other cloud-based offerings, which recently entered into an early adopter program and provide OSIsoft’s industry leading data management capability in a native cloud environment.”. Founded in 1980 by Dr J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. Aveva, OSIsoft, software Founded in 1980 by Dr J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. OSIsoft is headquartered in California, USA, and has approximately 1,400 employees. The British company said it would fund the deal using a combination of rights issues, cash on balance sheet and new debt, as well as issue shares to one of OSIsoft’s shareholders, Estudillo. Peter Herweck, Vice Chairman of AVEVA and Executive Vice President, Industrial Automation, Schneider Electric, said: “The combination of AVEVA and OSIsoft will accelerate our AVEVA partnership with significant customer value across process and hybrid automation industries plus the building and infrastructure sectors. Schneider Electric, a French industrial company, owns 60% of AVEVA and is unlikely to want to dilute its stake, since software is a key leg of its growth strategy. 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. Citi analysts said that while the Schneider merger was a … 2 Claridge Court, Lower Kings Road AVEVA says it’s in talks to acquire OSIsoft. OSIsoft's PI System is a leading platform for data acquisition and data structuring for its customers, specialized on the mission-critical applications on which AVEVA and Schneider are focused. I am not sure what a rights issue is and how that creates cash separately from a share issue — will update once I know more about this. OSIsoft’s PI System is used by its customers across 14,000 sites in 127 countries. Fax: +44 (0) 1442 870 617 UK based software company Aveva, majority-owned by French automation specialist Schneider Electric, struck a merger deal to acquire OSIsoft, the U.S.-based data management company for $5 billion. Kennedy’s Estudillo has a 50.3% stake in OSIsoft, while SoftBank holds 44.7% and the remaining is held by Mitsui & Co. Mitsui said it will sell its interest in OSIsoft for $250 million. Aveva on Tuesday said it was "capitalising on the technological megatrends that are driving digital transformation of the industrial world. I had thought the deal would go for something like $4 billion — OSI Soft is clearly a better negotiator than I had thought. Schneider supports the deal and will participate in the sale of discounted shares to finance it. Email: [email protected] or [email protected], McLanahan brings Indonesian coal mining customer tailored reliability with Hägglunds drive solutions, Trevali Mining and Redpath plot Caribou zinc-lead mine restart plan, FLSmidth negotiating to buy thyssenkrupp’s mining business. “OSIsoft’s PI System is a very scalable and robust enterprise level data historian platform, which will be a key enabler of a number of AVEVA solutions, in particular enhancing the Digital Twin, HMI/SCADA, Manufacturing Execution System and Asset Performance, with more inputs and connectivity to feed AI-infused and cloud-based solutions; AVEVA’s and OSIsoft’s solutions will combine to create a leading Industrial Internet of Things (IIoT) portfolio, which will continue to be platform and hardware agnostic, meaning that it will be able to communicate with diverse devices using different operating systems; the combined solution set will optimise engineering, operations and performance, with unprecedented efficiency and value as a result of the integration of both businesses; and AVEVA will be able to accelerate the market adoption and expansion of OSIsoft Cloud Services (OCS) and other cloud-based offerings, which recently entered into an early adopter program and provide OSIsoft’s industry leading data management capability in a native cloud environment.”, Completion is expected to occur around the end of the year. Commenting on the acquisition, Philip Aiken, Chairman of AVEVA, said: “I am delighted that we have reached agreement to acquire OSIsoft. Lots more detail to come but here’s what we know now: So why do this? Berkhamsted, Hertfordshire 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. AVEVA is in turn 60% held indirectly by Schneider Electric. The deal is expected to close around the end of the calendar year. Your email address will not be published. Commenting on the acquisition, Philip Aiken, Chairman of AVEVA, said: “I am delighted that we have reached agreement to acquire OSIsoft. Required fields are marked *. The acquisition has compelling strategic rationale with strong operational and financial benefits. As I said when this first hit the news, this makes a lot of sense for AVEVA and Schneider Electric. Lazard advised Aveva. AVEVA expertise in developing platform-independent software for the process industries could certainly be helpful in the area of interfaces, security, and cloud services. 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. OSIsoft is headquartered in California, USA, and has approximately 1,400 employees. 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. The acquisition will enable AVEVA to broaden and deepen its relationships with existing and new customers and bring a more comprehensive product portfolio to market.”, Peter Herweck, Vice Chairman of AVEVA and Executive Vice President, Industrial Automation, Schneider Electric, said: “The combination of AVEVA and OSIsoft will accelerate our AVEVA partnership with significant customer value across process and hybrid automation industries plus the building and infrastructure sectors. This transformative deal for AVEVA, strengthens our position as a global leader in engineering and industrial software. AVEVA Group PLC, a global leader in industrial software, announces that it has reached agreement on the terms of an acquisition of OSIsoft. (Schneider Electric owns most of AVEVA.) OSI will be integrated as a business unit within the combined group (so not with Schneider Electric). In addition, antitrust and other regulatory approvals must be sought. The acquisition requires AVEVA’s shareholder approval, and the initial material includes that Schneider Electric which owns about 60% of shares will vote to approve the deal. “. 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. Therefore, this made offering OSIsoft’s owners stock in the new company less likely than a capital increase, where Schneider could buy new shares. They gain control over PI System, go more deeply into new verticals and further reducing reliance on oil and gas customers, and, of course, bring PIto a much broader target market. 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.Since its founding in 1980, OSIsoft had been majority-owned by its original founder Dr Patrick Kennedy. AVEVA experts should work with OSIsoft development to support new enhancements and the volume of industrial data needed for the digital transformation. The acquisition will enable AVEVA to broaden and deepen its relationships with existing and new customers and bring a more comprehensive product portfolio to market.”. Aveva has agreed to acquire OSIsoft, its SoftBank-backed US rival, ... Citi analysts said that although the Schneider merger had been successful, the new $5bn merger presented some risk. The acquisition has compelling strategic rationale with strong operational and financial benefits. Learn how your comment data is processed. The next chapter in PI’s fifth decade will be exciting for our employees and customers, and I look forward to my continued involvement as Chairman Emeritus and shareholder.”, International Mining In the twelve months ended 30 June 2020, OSIsoft had revenue of $488.5 million and Adjusted EBIT of $152.2 million”. The next chapter in PI’s fifth decade will be exciting for our employees and customers, and I look forward to my continued involvement as Chairman Emeritus and shareholder.”, The Electric Mine Virtual Conference 2020 Papers, The Truck n Shovel 2019 Conference Papers, Trevali Mining has enlisted the help of Redpath Mining to restart its Caribou zinc-lead underground mine near Bathu…. To be fair, Cambridge-based Aveva, which started life as a government-funded research institute, is more a French hybrid than UK business following a £3bn reverse takeover by Schneider Electric in 2017. “Furthermore, as businesses deploy increasing levels of sensor-enabled equipment, more assets are streaming more data, increasing the need for and value derived from the PI System. Industrial software provider Aveva Group announced an agreement to acquire California-based Osisoft for $5 billion. AVEVA Group Plc, the British industrial software firm, has agreed to buy OSIsoft in a deal that gives the California-based company an enterprise value of $5 billion. Aveva today cemented its position as a rare UK tech giant as it snapped up Softbank-backed industrial software group OSIsoft for $5 billion. Craig Hayman, Chief Executive of AVEVA, said: “The acquisition of OSIsoft is perfectly in line with our strategic vision and it will accelerate the Enlarged Group’s role in the digitisation of the industrial world, which is being driven by a need for sustainability, the industrial internet of things, Cloud, data visualisation and artificial intelligence. Finally, of course, there’s AVEVA’s global scale and Schneider Electic connections: “AVEVA will be able to accelerate the market adoption and expansion of OSIsoft Cloud Services (OCS) and other cloud-based offerings, which recently entered into an early adopter program and provide OSIsoft’s industry leading data management capability in a native cloud environment”. AVEVA’s industrial software is a key element of Schneider Electric’s IoT-enabled architecture, EcoStruxure which will be further enhanced by OSIsoft’s PI System and its support for open infrastructure. The acquisition will strengthen AVEVA’s position as a global leader in industrial software, whilst a combination of the complementary product offerings of AVEVA and OSIsoft is expected to allow the Enlarged Group to accelerate growth and continue to generate significant shareholder value.”. 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 said it was in talks to acquire OSISoft? This site uses Akismet to reduce spam. Schneider Electric is committed to supporting customers with digital solutions for efficiency and sustainability.”. Osisoft makes data-management tools for the utility, pharmaceutical and oil and gas industries and says its PI System helps customers identify areas for cost savings, extend equipment life and expand production capacity. The statement added: “Through OSIsoft’s PI System, customers draw insights, make better decisions, optimise operations, and drive digital transformation.” Notably it works with. 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. Industrial software giant AVEVA has plans to grow OSIsoft's cloud-based Industrial IoT (IIOT) offering after agreeing a $5bn deal for the American firm. 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. Your email address will not be published. Schneider Electric is committed to supporting customers with digital solutions for efficiency and sustainability.”, Dr J. Patrick Kennedy, Founder and Chief Executive of OSIsoft, said: “Joining forces with AVEVA enhances and extends our ability to deliver on our key commitments to our customers, partners and employees. Its PI System is the system of record for customers for data capture, storage, analysis and sharing of real-time industrial sensor-based data across all operations, enabling customers to connect disparate sources of time-series data in an efficient and cost-effective manner. Aveva combined with Schneider’s industrial software arm in 2018. AVEVA and OSIsoft Combine Accelerating Digital Transformation of Industrial World. AVEVA intends to finance the acquisition by issuing $0.6 billion in Ordinary Shares and using $4.4 billion in cash. OSIsoft’s PI System is used by its customers across 14,000 sites in 127 countries. OSISoft and AVEVA: Could this be the defining deal of the IIoT Era? Aveva shares were up 6.7% in early trading Tuesday. The valuation of OSIsoft, although “expensive” and prompting Schneider to suspend its share buyback, however offers a “strong industrial logic”, according to analysts at Jefferies. Aveva AVV, -0.85% said it's buying OSIsoft for $5 billion in a mostly cash deal to expand its position in industrial software. AVEVA Group PLC, 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. The statement added: “Through OSIsoft’s PI System, customers draw insights, make better decisions, optimise operations, and drive digital transformation.” Notably it works with all of the Global Fortune Top 10 metals and mining companies. The rights issue is expected to be launched in the fall. By Investable Universe August 27, 2020 No Comments 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 . Finally, of course, there’s AVEVA’s global scale and Schneider Electic connections: “AVEVA will be able to accelerate the market adoption and expansion of OSIsoft Cloud Services (OCS) and other cloud-based offerings, which recently entered into an early adopter program and provide OSIsoft’s industry leading data management capability in a native cloud environment”. 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. More after the press conference later today. AVEVA Group PLC, 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. © Monica Schnitger 2008-2021 | All Rights Reserved | www.schnitgercorp.com | Connect, Autodesk's Q2 revenue up 15%, comes out swinging on AEC. It is going to be extremely interesting to monitor the evolution of the different strategic alliances and how their impact will be perceived across the different industries. Furthermore, as businesses deploy increasing levels of sensor-enabled equipment, more assets are streaming more data, increasing the need for and value derived from the PI System. Remember how AVEVA said it was in talks to acquire OSISoft? The acquisition is expected to close in late 2020 or early 2021. Its PI System is the system of record for customers for data, capture, storage, analysis and sharing of real-time industrial sensor-based data across all operations, enabling. Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. Because you’ll ask, AVEVA shared this about OSIsoft’s revenue: revenue grew at a compound annual growth rate of around 10% from 2009-2019, and “this strong growth continued this year as the imperative for digital transformation has continued through the COVID-19 crisis, with year over year revenue growth of 10.0% in the six months ended 30 June 2020. Aveva is seeking to break the “winners’ curse” with a $5bn acquisition of SoftBank-backed OSIsoft. Schneider Electric-controlled AVEVA buying mining real-time data major OSIsoft. at an enterprise value of $5.0 billion. AVEVA Group PLC, 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 is in turn 60% held indirectly by Schneider Electric.. Aveva will become Britain’s largest software group, after agreeing to the $5 billion, merger with the American based OSIsoft. 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