Aveva announces it will acquire Osisoft for $5 billion. The companies 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, according to Aveva
Osisoft’s data management software will complement Aveva’s end-to-end engineering, operations and performance offerings. Integrating Osisoft’s PI System into Aveva’s software portfolio will reportedly create an integrated data foundation. 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, according to the company.
Together, Aveva and Osisoft can reportedly provide full-stack offerings that span edge, plant and enterprise deployment models. 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, according to Aveva.
“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,” says Craig Hayman, CEO of Aveva. “This agreement will enable our customers to improve business processes as well as eliminate inefficiencies.”
For more information, visit: www.aveva.com
