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    aveva osisoft acquisition

    Acquisition of OSIsoft, LLC 07:00:05 25 Aug 2020 - AVEVA GROUP PLC - News article - Regulatory News Service The Acquisition will strengthen AVEVA’s position as a global leader in industrial software, with combined pro forma revenue of c.£1.2 billion. 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. All Rights Reserved. “Customers are driving for bigger and bigger scope. . 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. 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. 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. . In addition, the pandemic has stimulated people’s thinking about opportunities that can be unlocked through digitalization. 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. In 2019, OSIsoft held $96.3M (£72.6M) in cash and cash equivalents and $1.26B (£0.95B) in total assets, while AVEVA held … AVEVA has reached agreement to acquire OSIsoft, a pioneer and global leader in real-time industrial operational data software and services. AVEVA and OSIsoft will combine their complementary product offerings, bringing together industrial software and data management to help customers in industrial and essential organizations … "It’s not set by the data being in particular DCS, a multiplexer or other device.”  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. 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. 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. 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. The company said regulatory and … How will the AVEVA acquisition help OSIsoft grow? 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 agreed a £250m credit facility with its banks and a $900m term loan from Scheider in August to help fund the OSIsoft acquisition. 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.”  . . 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. High Cross Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. AVEVA and the AVEVA logo are a trademark or registered trademark of AVEVA Group plc in the U.S. and other countries. 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. In the twelve months ended 30 June 2020, OSIsoft had revenue of $488.5 million and Adjusted EBIT of $152.2 million”. This agreement will enable our customers to improve business processes as well as eliminate inefficiencies. 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. . 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. 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. 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 company’s engineering, planning and operations, asset performance, and monitoring and control solutions deliver proven results to over 16,000 customers across the globe. 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. The board saw this as strategically the right combination with OSIsoft to not only collect the information but store and develop it. Building Stakeholder Value and Improving Sustainability. For those keeping score, this represents a 10x-ish revenue multiple; AVEVA believes that the acquisition will be accretive to earnings in AVEVA’s fiscal 2022, ending 31 March 2022. OSIsoft's J. Patrick Kennedy. $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. 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. 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. 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. Another part of the discussion was the pandemic that has exposed a number of problems and issues that can be solved with digitalization. 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. 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. Terms and Conditions. “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. As a combined entity, AVEVA and OSIsoft can further deliver on their sustainability goals, driving significant benefits and value for their customers. This acquisition will send shockwaves through the industrial software market. 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. AVEVA is in turn 60% held indirectly by Schneider Electric. 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. CB3 0HB, UK, © 2020-2021 AVEVA Group plc and its subsidiaries. Automation & IIoT; Aveva Acquires Osisoft: Deal Accelerates Industrial Enterprise Digitalization. So why do this? Digitalization Stack Buildout: AVEVA Acquires OSIsoft . 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. 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. $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. . 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. 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 amount of data coming in will continue to grow. This was discussed in a virtual meeting Aug. 25, 2020 with: Craig Hayman, AVEVA CEO 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. 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. I see us becoming a very, very open infrastructure making more data available for more applications.” 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. As part of this acquisition, Aveva will combine OSIsoft ’s products with its own. OSIsoft’s data management software will complement AVEVA’s comprehensive end-to-end engineering, operations, and performance offerings. The Schneider Electric industrial software business and AVEVA have merged to trade as AVEVA Group plc, a UK listed company. AVEVA and OSIsoft will combine their complementary product offerings, bringing together industrial software and data management capabilities. AVEVA’s Proposed Acquisition of OSIsoft AVEVA and OSIsoft to Accelerate the Digital Transformation of the Industrial World 25 August 2020 Craig Hayman, CEO 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. “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. 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. The acquisition is expected to close in late 2020 or early 2021. 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. He continued, “Yes, there will be distributed historians they will be in the fork lifts, cars, machines. “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. 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. The opportunity here that the new venture we have with OSIsoft gives us the ability to give customers solutions that can never have dreamt of some years ago.”. Software giant Aveva merges with OSIsoft in multi-billion dollar deal By Sead Fadilpašić 25 August 2020 Acquisition will bring together 'complementary product offerings'. The Schneider Electric and Life Is On trademarks are owned by Schneider Electric and are being licensed to AVEVA by Schneider Electric. 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. In 2017, SoftBank’s Vision Fund bought out the VC investors but Mitsui held onto its shares until AVEVA came knocking. 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. Its customers are supported by the largest industrial software ecosystem, including 4,200 partners and 5,700 certified developers. The Acquisition of OSIsoft will increase AVEVA's penetration across the Americas, EMEA and Asia Pacific and increase the potential for cross-selling opportunities due to the high level of complementarity between AVEVA and OSIsoft's respective product portfolios. “We started writing interfaces 40 years ago and 1/3 of our development is still interfaces," he said. MDT Holdings, Inc. (“Mitsui”), a company owned by Mitsui Group. 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. 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." 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