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schneider aveva osisoft

Their combined solution set will “optimise engineering, operations and performance, with unprecedented efficiency and value as a result of the integration of both businesses”. Part of French group Schneider Electric, Aveva said the purchase would allow the British company "to accelerate the market adoption and expansion of OSIsoft Cloud Services and other cloud-based offerings". Required fields are marked *. 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.”. 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. 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. 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. OSI will be integrated as a business unit within the combined group (so not with Schneider Electric). 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. 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. AVEVA says it’s in talks to acquire OSIsoft. 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. 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. AVEVA has reached agreement to acquire OSIsoft, a pioneer and global leader in real-time industrial operational data software and services. 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. “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.”. 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. Citi analysts said that while the Schneider merger was a … 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 is in turn 60% held indirectly by Schneider Electric. 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. Team Publishing Ltd OSIsoft’s PI System is used by its customers across 14,000 sites in 127 countries. Lots more detail to come but here’s what we know now: So why do this? Founded in 1980 by Dr J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. Founded in 1980 by Dr J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. 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. Even if OSIsoft continues to be an open platform, the sales teams would be challenged by AVEVA and Schneider Electric sales with their competitive advantage as "owners" of the core data platform. 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 . Aveva will become Britain’s largest software group, after agreeing to the $5 billion, merger with the American based OSIsoft. Aveva shares were up 6.7% in early trading Tuesday. 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”. 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. 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. Schneider Electric is committed to supporting customers with digital solutions for efficiency and sustainability.”. Commenting on the acquisition, Philip Aiken, Chairman of AVEVA, said: “I am delighted that we have reached agreement to acquire OSIsoft. It delivers aggregation and visualization of real-time sensor, actuator and control data in an open infrastructure to support best-of-breed ecosystems. 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. “. The British company said it would fund the acquisition 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. In all, AVEVA expects the deal to close near the end of 2020. (Schneider Electric owns most of AVEVA.) The acquisition has compelling strategic rationale with strong operational and financial benefits. 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 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. OSIsoft is headquartered in California, USA, and has approximately 1,400 employees. Aveva said Schneider Electric has committed to vote in favour of the OSIsoft deal and take part in the rights issue. In addition, antitrust and other regulatory approvals must be sought. 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. 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. Fax: +44 (0) 1442 870 617 Completion is expected to occur around the end of the year. Lazard advised Aveva. 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 AVV, -0.85% said it's buying OSIsoft for $5 billion in a mostly cash deal to expand its position in industrial software. 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’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 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.. In the twelve months ended 30 June 2020, OSIsoft had revenue of $488.5 million and Adjusted EBIT of $152.2 million”. British industrial software publisher Aveva, subsidiary of the French group Schneider Electric, announced on Tuesday that it had reached an agreement to buy its American competitor OSIsoft for 5 billion dollars. 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. “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. Remember how AVEVA said it was in talks to acquire OSISoft? As I said when this first hit the news, this makes a lot of sense for AVEVA and Schneider Electric. This transformative deal for AVEVA, strengthens our position as a global leader in engineering and industrial software. customers to connect disparate sources of time-series data in an efficient and cost-effective manner. OSIsoft’s PI System is used by its customers across 14,000 sites in 127 countries. AVEVA said it was in talks to acquire OSISoft? 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. 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. 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. 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. Aveva’s last major deal was three years ago when France’s Schneider Electric took a 60% stake in the company. 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. Aveva combined with Schneider’s industrial software arm in 2018. 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. 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.”. 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. Learn how your comment data is processed. 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. Commenting on the acquisition, Philip Aiken, Chairman of AVEVA, said: “I am delighted that we have reached agreement to acquire OSIsoft. The rights issue is expected to be launched in the fall. 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. all of the Global Fortune Top 10 metals and mining companies. 2 Claridge Court, Lower Kings Road AVEVA is in turn 60% held indirectly by Schneider Electric. AVEVA and OSIsoft Combine Accelerating Digital Transformation of Industrial World. The statement added: “Through OSIsoft’s PI System, customers draw insights, make better decisions, optimise operations, and drive digital transformation.” Notably it works with. 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. Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. Schneider supports the deal and will participate in the sale of discounted shares to finance it. 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. 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. More after the press conference later today. Aveva on Tuesday said it was "capitalising on the technological megatrends that are driving digital transformation of the industrial world. © Monica Schnitger 2008-2021 | All Rights Reserved | www.schnitgercorp.com | Connect, Autodesk's Q2 revenue up 15%, comes out swinging on AEC. AVEVA Group PLC, a global leader in industrial software, announces that it has reached agreement on the terms of an acquisition of OSIsoft. Aveva today cemented its position as a rare UK tech giant as it snapped up Softbank-backed industrial software group OSIsoft for $5 billion. 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. Industrial software provider Aveva Group announced an agreement to acquire California-based Osisoft for $5 billion. Your email address will not be published. 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. Therefore, this made offering OSIsoft’s owners stock in the new company less likely than a capital increase, where Schneider could buy new shares. 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. Founded in 1980 by Dr J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. 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. 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. 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 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. “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. AVEVA says OSIsoft’s PI System “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 is in turn 60% held indirectly by Schneider Electric. This site uses Akismet to reduce spam. For those keeping score, this represents a 10x-ish revenue multiple. AVEVA expertise in developing platform-independent software for the process industries could certainly be helpful in the area of interfaces, security, and cloud services. Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. AVEVA experts should work with OSIsoft development to support new enhancements and the volume of industrial data needed for the digital transformation. OSISoft and AVEVA: Could this be the defining deal of the IIoT Era? 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 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. Aveva is seeking to break the “winners’ curse” with a $5bn acquisition of SoftBank-backed OSIsoft. 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. Your email address will not be published. Berkhamsted, Hertfordshire 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…. at an enterprise value of $5.0 billion. The acquisition has compelling strategic rationale with strong operational and financial benefits. AVEVA intends to finance the acquisition by issuing $0.6 billion in Ordinary Shares and using $4.4 billion in cash. The deal is expected to close around the end of the calendar year. Aveva, OSIsoft, software England HP4 2AF, UK, Tel: +44 (0) 1442 870 829 Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. 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. AVEVA believes that the acquisition will be accretive to earnings in AVEVA’s fiscal 2022, ending 31 March 2022. The acquisition is expected to close in late 2020 or early 2021. 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. I had thought the deal would go for something like $4 billion — OSI Soft is clearly a better negotiator than I had thought. Schneider Electric-controlled AVEVA buying mining real-time data major OSIsoft. 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Siemens Healthineers Investor Relations, Dc Tax Sales, Warm Winter Walking Shoes Women's, Spongebob Fighting Games Online, Meaning Of Female Name Chitra, Word Of Mouf, Medb400vq0 Heating Element Replacement,

2021-01-17T03:08:14+00:00