PR85253

LONDON and SAN LEANDRO, Calif., August 25 /PRNewswire=KYODO JBN/ --

- 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