Industrial software giant AVEVA will acquire OSIsoft, provider of real-time industrial data software and services, for $5 billion.
The companies will combine their product offerings, bringing together industrial software and data management to help customers in industrial organizations to accelerate their digital transformational strategies.
Integrating OSIsoft’s PI System into AVEVA’s end-to-end engineering, operations and performance software portfolio will create a data foundation that can drive big data, cloud and AI-driven insights.
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 operations decision making.
“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, in a statement. “This agreement will enable our customers to improve business processes as well as eliminate inefficiencies.”
The transaction is expected to close at the end of 2020.