Engineering and industrial software company AVEVA will acquire industrial data software and services company OSIsoft to advance the digital transformation of the industrial sector.
The $US5 billion ($6.9 billion) acquisition will combine OSIsoft’s product offerings with those of AVEVA in an effort to push digital transformation forward.
AVEVA chief executive Craig Hayman said the acquisition would support the company’s vision of digitisation.
Data has been enabling organisations to more effectively determine the cause of problems by allowing them to visualise what is happening in different locations, departments and systems.
“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 digitisation vision,” Hayman said.
AVEVA will adopt OSIsoft’s PI system, which collects, normalises, stores and streams real-time operational data to applications, analytics, artificial intelligence and machine learning platforms.
This will enable AVEVA to implement big data, cloud and AI-driven insights.
“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,” AVEVA stated.
“As a combined entity, AVEVA and OSIsoft can further deliver on their sustainability goals, driving significant benefits and value for their customers.”
OSIsoft operates alongside leaders in multiple industries, including all of the Global Fortune Top 10 metals and mining companies.