aveva osisoft acquisition

Circular and Prospectus to approve the transaction and launch the proposed rights issue expected in October or early November 2020, Closing at or around the end of the calendar year. “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. Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. Terms and Conditions. $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. This acquisition will send shockwaves through the industrial software market. 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. Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. High Cross There are a lot of synergies and potential for OSIsoft to continue its growth with AVEVA. Enterprise value of $5.0 billion on a cash-free, debt-free basis and on the basis of a normalized level of working capital at completion. 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." This agreement will enable our customers to improve business processes as well as eliminate inefficiencies. 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. Senior Director, PR and External Relations As part of this acquisition, Aveva will combine OSIsoft ’s products with its own. 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. Aveva Group Plc is in advanced talks to acquire industrial software maker OSIsoft LLC for about $5 billion, according to people familiar with the matter. The acquisition will add scale, support industry diversification and accelerate digitalization. Peter Herweck: “I am a fan of decoupling hardware and software because I believe for many years software will rule the world and automation and digitization," Herweck said. The hybrid AVEVA/Schneider Electric relationship is intriguing, and with the addition of OSIsoft provides another valuable dimension. 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. In addition, the pandemic has stimulated people’s thinking about opportunities that can be unlocked through digitalization. Digitalization Stack Buildout: AVEVA Acquires OSIsoft . [email protected], Sard Verbinnen & Co 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. 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. Madingley Road All Rights Reserved. There will be a lot more software generated to automatically spin up things like intelligent forklift, historian or whatever.”. 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. The Acquisition will strengthen AVEVA’s position as a global leader in industrial software, with combined pro forma revenue of c.£1.2 billion. Aveva AVV, +2.28% said it's buying OSIsoft for $5 billion in a mostly cash deal to expand its position in industrial software. For further details about this announcement, please refer to the Regulatory News Service at: https://investors.aveva.com/. Acquisition of OSIsoft, LLC 07:00:05 25 Aug 2020 - AVEVA GROUP PLC - News article - Regulatory News Service Automation & IIoT; Aveva Acquires Osisoft: Deal Accelerates Industrial Enterprise Digitalization. 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. “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. 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. 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. Anti-Slavery and Human Trafficking Statement, 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. This builds upon the 2018 merger of Schneider Electric’s industrial software business, including Wonderware, into AVEVA. 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 and OSIsoft Combine Accelerating Digital Transformation of Industrial World. Another part of the discussion was the pandemic that has exposed a number of problems and issues that can be solved with digitalization. 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. 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. Aveva, 60% owned by Schneider Electric, has integrated much of the French industrial … Tel: +1 (212) 687-8080 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. . AVEVA and the AVEVA logo are a trademark or registered trademark of AVEVA Group plc in the U.S. and other countries. This transformative deal for AVEVA, strengthens our position as a global leader in engineering and industrial software. . 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. At the time of the acquisition, OSIsoft employed approximately 1,400 people and had annual revenues of around $400 million. 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 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 amount of data coming in will continue to grow. He continued, “We have a very different approach, yes have a system point of view but be open to interconnectivity between different systems.”  Hayman noted that he and Pat Kennedy have had very deep conversations about Aveva, OSIsoft, and Schneider as being a “Switzerland, a common ground.”, Dr. J. Patrick Kennedy: Pat Kennedy discussed that when his company started in the 1980s, there were companies that developed an entire business plan around one interface, and "because we were applications people, we couldn’t live with a single interface because the data you need for your particular function is set by physics," he explained. Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. 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. 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. . He continued, “Yes, there will be distributed historians they will be in the fork lifts, cars, machines. 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. 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. In November, Aveva said it will pay USD5.0 billion for the acquisition of OSIsoft. $3.5 billion proposed Rights Issue. The Schneider Electric industrial software business and AVEVA have merged to trade as AVEVA Group plc, a UK listed company. 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. 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. As a combined entity, AVEVA and OSIsoft can further deliver on their sustainability goals, driving significant benefits and value for their customers. AVEVA Group plc (LON:AVV), 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.. OSIsoft’s data management software will complement AVEVA’s comprehensive end-to-end engineering, operations, and performance offerings. By Zoe Wickens; zoewickens@alliancenews.com 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. . 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. Are never satisfying as first represented store and develop it first represented ), UK! 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