- Combined Product Offering to Support Customers in Optimizing Operations, 
Driving Sustainability and Creating Greater 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 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. 

    OSIsoft's data management software will complement AVEVA's comprehensive 
end-to-end engineering, operations, and performance offerings. 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. 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.

    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. 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. In addition to sharing a 
complementary solutions portfolio, this transaction further validates AVEVA's 
leading position in digitization and IIoT.

    OSIsoft's PI System enables customers to collect, normalize, store, and 
stream real-time, high-fidelity operational data to applications, analytics, 
and AI and ML platforms. 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. 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. 

    Building Stakeholder Value and Improving Sustainability 

    The complementary product offerings of AVEVA and OSIsoft will allow the 
combined company to continue to generate significant value for its stakeholders 
by creating new opportunities for innovation using new and emerging 
technologies. The two product suites are open and interoperable, and 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 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.

    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. 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. 
Data has been enabling organizations to more effectively determine the cause of 
problems by allowing them to visualize what is happening in different 
locations, departments and systems. This agreement will enable our customers to 
improve business processes as well as eliminate inefficiencies. 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. Together we will be better able to service 
the largest digital transformation projects in history, including across 
industry 4.0+ and IIoT. 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. 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. 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."

NOTE TO EDITORS:

    This is an abbreviated press release. For further details about this 
announcement, please refer to the Regulatory News Service at: 
https://investors.aveva.com/ 

    OSIsoft ownership

    OSIsoft is currently owned by three shareholders: 

    - 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 
    - MDT Holding, Inc. ("Mitsui"), a company owned by Mitsui & Co.

   About AVEVA:

    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 company's engineering, planning and 
operations, asset performance, and monitoring and control solutions deliver 
proven results to over 16,000 customers across the globe. Its customers are 
supported by the largest industrial software ecosystem, including 4,200 
partners and 5,700 certified developers. AVEVA is headquartered in Cambridge, 
UK, with over 4,400 employees at 80 locations in over 40 countries. For more 
details visit: https://www.aveva.com/en/ 

    About OSIsoft:

    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'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. 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. Learn why 
two-thirds of Global Fortune 500 industrial organizations choose PI System at 
www.osisoft.com 

    PRESS CONTACTS:

    AVEVA:                                                           
    Rose Bambi
    Senior Director, PR and External Relations
    Rose.bambi@aveva.com 

    OSIsoft:
    Sard Verbinnen & Co
    Emily Claffey / Ben Spicehandler / Tori Goodell 
    +1 (212) 687-8080 
    OSIsoft-SVC@sardverb.com 

 


    SOURCE: AVEVA