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Email: [email protected] or [email protected], McLanahan brings Indonesian coal mining customer tailored reliability with Hägglunds drive solutions, Trevali Mining and Redpath plot Caribou zinc-lead mine restart plan, FLSmidth negotiating to buy thyssenkrupp’s mining business. As I said when this first hit the news, this makes a lot of sense for AVEVA and Schneider Electric. Aveva shares were up 6.7% in early trading Tuesday. Aveva on Tuesday said it was "capitalising on the technological megatrends that are driving digital transformation of the industrial world. The rights issue is expected to be launched in the fall. Finally, of course, there’s AVEVA’s global scale and Schneider Electic connections: “AVEVA will be able to accelerate the market adoption and expansion of OSIsoft Cloud Services (OCS) and other cloud-based offerings, which recently entered into an early adopter program and provide OSIsoft’s industry leading data management capability in a native cloud environment”. Fax: +44 (0) 1442 870 617 The valuation of OSIsoft, although “expensive” and prompting Schneider to suspend its share buyback, however offers a “strong industrial logic”, according to analysts at Jefferies. Schneider supports the deal and will participate in the sale of discounted shares to finance it. Aveva, OSIsoft, software Lazard advised Aveva. AVEVA believes that the acquisition will be accretive to earnings in AVEVA’s fiscal 2022, ending 31 March 2022. Part of French group Schneider Electric, Aveva said the purchase would allow the British company "to accelerate the market adoption and expansion of OSIsoft Cloud Services and other cloud-based offerings". Remember how AVEVA said it was in talks to acquire OSISoft? AVEVA is in turn 60% held indirectly by Schneider Electric. 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. Craig Hayman, Chief Executive of AVEVA, said: “The acquisition of OSIsoft is perfectly in line with our strategic vision and it will accelerate the Enlarged Group’s role in the digitisation of the industrial world, which is being driven by a need for sustainability, the industrial internet of things, Cloud, data visualisation and artificial intelligence. AVEVA says it’s in talks to acquire OSIsoft. By Investable Universe August 27, 2020 No Comments On Tuesday, it was announced that Aveva , the Cambridge, U.K .-based industrial and predictive analytics software company that is majority-owned by European multinational Schneider Electric , has agreed to pay $5 billion to purchase all of OSISoft . Aveva’s last major deal was three years ago when France’s Schneider Electric took a 60% stake in the company. Aveva is seeking to break the “winners’ curse” with a $5bn acquisition of SoftBank-backed OSIsoft. Team Publishing Ltd OSIsoft's PI System is a leading platform for data acquisition and data structuring for its customers, specialized on the mission-critical applications on which AVEVA and Schneider are focused. The statement added: “Through OSIsoft’s PI System, customers draw insights, make better decisions, optimise operations, and drive digital transformation.” Notably it works with. Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. Aveva combined with Schneider’s industrial software arm in 2018. British industrial software publisher Aveva, subsidiary of the French group Schneider Electric, announced on Tuesday that it had reached an agreement to buy its American competitor OSIsoft for 5 billion dollars. It delivers aggregation and visualization of real-time sensor, actuator and control data in an open infrastructure to support best-of-breed ecosystems. “. “OSIsoft’s PI System is a very scalable and robust enterprise level data historian platform, which will be a key enabler of a number of AVEVA solutions, in particular enhancing the Digital Twin, HMI/SCADA, Manufacturing Execution System and Asset Performance, with more inputs and connectivity to feed AI-infused and cloud-based solutions; AVEVA’s and OSIsoft’s solutions will combine to create a leading Industrial Internet of Things (IIoT) portfolio, which will continue to be platform and hardware agnostic, meaning that it will be able to communicate with diverse devices using different operating systems; the combined solution set will optimise engineering, operations and performance, with unprecedented efficiency and value as a result of the integration of both businesses; and, AVEVA will be able to accelerate the market adoption and expansion of OSIsoft Cloud Services (OCS) and other cloud-based offerings, which recently entered into an early adopter program and provide OSIsoft’s industry leading data management capability in a native cloud environment.”. Aveva will become Britain’s largest software group, after agreeing to the $5 billion, merger with the American based OSIsoft. Industrial software giant AVEVA has plans to grow OSIsoft's cloud-based Industrial IoT (IIOT) offering after agreeing a $5bn deal for the American firm. This transformative deal for AVEVA, strengthens our position as a global leader in engineering and industrial software. 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. AVEVA Group PLC, a global leader in industrial software, announces that it has reached agreement on the terms of an acquisition of OSIsoft. Peter Herweck, Vice Chairman of AVEVA and Executive Vice President, Industrial Automation, Schneider Electric, said: “The combination of AVEVA and OSIsoft will accelerate our AVEVA partnership with significant customer value across process and hybrid automation industries plus the building and infrastructure sectors. Founded in 1980 by Dr J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. Completion is expected to occur around the end of the year. Founded in 1980 by Dr J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. Aveva Group Plc has agreed to buy Osisoft in a deal that gives the SoftBank Group Corp.-backed industrial software maker an enterprise value of $5 billion. Lots more detail to come but here’s what we know now: So why do this? Berkhamsted, Hertfordshire Aveva AVV, -0.85% said it's buying OSIsoft for $5 billion in a mostly cash deal to expand its position in industrial software. “Furthermore, as businesses deploy increasing levels of sensor-enabled equipment, more assets are streaming more data, increasing the need for and value derived from the PI System. 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. AVEVA intends to finance the acquisition by issuing $0.6 billion in Ordinary Shares and using $4.4 billion in cash. That cash will come from a rights issue of $3.5 billion and $0.9 billion of cash on balance sheet and new debt facilities. OSIsoft is headquartered in California, USA, and has approximately 1,400 employees. The acquisition has compelling strategic rationale with strong operational and financial benefits. Its PI System is the system of record for customers for data, capture, storage, analysis and sharing of real-time industrial sensor-based data across all operations, enabling. Schneider Electric, a French industrial company, owns 60% of AVEVA and is unlikely to want to dilute its stake, since software is a key leg of its growth strategy. Required fields are marked *. Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT. Schneider Electric is committed to supporting customers with digital solutions for efficiency and sustainability.”, Dr J. Patrick Kennedy, Founder and Chief Executive of OSIsoft, said: “Joining forces with AVEVA enhances and extends our ability to deliver on our key commitments to our customers, partners and employees. 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.AVEVA is in turn 60% held indirectly by Schneider Electric.. AVEVA Group Plc, the British industrial software firm, has agreed to buy OSIsoft in a deal that gives the California-based company an enterprise value of $5 billion. Schneider Electric is committed to supporting customers with digital solutions for efficiency and sustainability.”. Osisoft makes data-management tools for the utility, pharmaceutical and oil and gas industries and says its PI System helps customers identify areas for cost savings, extend equipment life and expand production capacity. In all, AVEVA expects the deal to close near the end of 2020. Citi analysts said that while the Schneider merger was a … OSIsoft is headquartered in California, USA, and has approximately 1,400 employees. Their combined solution set will “optimise engineering, operations and performance, with unprecedented efficiency and value as a result of the integration of both businesses”. The acquisition requires AVEVA’s shareholder approval, and the initial material includes that Schneider Electric which owns about 60% of shares will vote to approve the deal.

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