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. AVEVA and the AVEVA logo are a trademark or registered trademark of AVEVA Group plc in the U.S. and other countries. Integrating OSIsoft’s PI System into AVEVA’s comprehensive software portfolio will create an integrated data foundation that can drive big data, Cloud and AI-driven insights to create meaningful business outcomes for customers. 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. Digitalization Stack Buildout: AVEVA Acquires OSIsoft . “We started writing interfaces 40 years ago and 1/3 of our development is still interfaces," he said. 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." “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. Cambridge AVEVA, a global leader in industrial software, and OSIsoft, a global leader in real-time industrial data software and services, announced an agreement for AVEVA to acquire OSIsoft for $5.0 billion. The Schneider Electric industrial software business and AVEVA have merged to trade as AVEVA Group plc, a UK listed company. AVEVA is headquartered in Cambridge, UK, with over 4,400 employees at 80 locations in over 40 countries. In November, Aveva said it will pay USD5.0 billion for the acquisition of OSIsoft. 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. StockMarketWire.com - Information technology company Aveva said it expected to receive regulatory approvals for its acquisition of OSIsoft over the … "It’s not set by the data being in particular DCS, a multiplexer or other device.” In the twelve months ended 30 June 2020, OSIsoft had revenue of $488.5 million and Adjusted EBIT of $152.2 million”. In a $5 billion deal, engineering and industrial software company AVEVA has agreed to acquire OSIsoft, maker of the PI System, which is a market-leading operational data software solution. The company said regulatory and … “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,” the companies said in a statement. 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. Madingley Road 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.. CB3 0HB, UK, © 2020-2021 AVEVA Group plc and its subsidiaries. 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. Software giant Aveva merges with OSIsoft in multi-billion dollar deal By Sead Fadilpašić 25 August 2020 Acquisition will bring together 'complementary product offerings'. 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. Acquisition of OSIsoft, LLC 07:00:05 25 Aug 2020 - AVEVA GROUP PLC - News article - Regulatory News Service Combined Product Offering to Support Customers in Optimizing Operations, Driving Sustainability and Creating Greater Value. Aveva, 60% owned by Schneider Electric, has integrated much of the French industrial … As part of this acquisition, Aveva will combine OSIsoft ’s products with its own. Commenting on the agreement, Craig Hayman, CEO of AVEVA, said: “Combining AVEVA and OSIsoft is yet another significant milestone in our journey to achieving the ambitious growth goals that we have set. 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. . This agreement will enable our customers to improve business processes as well as eliminate inefficiencies. He described how many companies outside of the industry have come in and said, “Behold, I have a platform, my edge to IT, OT convergence architecture is all singing and dancing subscribe to my point of view and all will be right in the world. $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. Tel: +1 (212) 687-8080 Aveva AVV, +2.28% said it's buying OSIsoft for $5 billion in a mostly cash deal to expand its position in industrial software. 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. OSIsoft’s data management software will complement AVEVA’s comprehensive end-to-end engineering, operations, and performance offerings. Let’s be polite and say those results are never satisfying as first represented. . 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. Terms and Conditions. AVEVA and OSIsoft Combine Accelerating Digital Transformation of Industrial World. 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. Under terms of the deal, Aveva will acquire 100% of OSISoft, valuing the company at 32.9x trailing twelve-month enterprise value to EBIT, which is broadly in line with AVEVA’s own multiple. In 2019, OSIsoft held $96.3M (£72.6M) in cash and cash equivalents and $1.26B (£0.95B) in total assets, while AVEVA held … 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. . Aveva agreed a £250m credit facility with its banks and a $900m term loan from Scheider in August to help fund the OSIsoft acquisition. 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. The Schneider Electric and Life Is On trademarks are owned by Schneider Electric and are being licensed to AVEVA by Schneider Electric. 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. Together, AVEVA and OSIsoft can provide full-stack solutions that span edge, plant, and enterprise deployment models, strengthening AVEVA’s position as a global leader in industrial software. The complementary product offerings of AVEVA and OSIsoft will allow the combined company to continue to generate significant value for its stakeholders by creating new opportunities for innovation using new and emerging technologies. The acquisition of OSIsoft could put the new, larger AVEVA in better standing since it will combine their respective customer bases and their total assets. . “One of the first considerations that Aviva had when it merged with Schneider Software was to give ourselves more bandwidth to operate cradle-to-grave, developing a project right through operations and maintenance. 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’s Proposed Acquisition of OSIsoft AVEVA and OSIsoft to Accelerate the Digital Transformation of the Industrial World 25 August 2020 Craig Hayman, CEO By Zoe Wickens; zoewickens@alliancenews.com As a combined entity, AVEVA and OSIsoft can further deliver on their sustainability goals, driving significant benefits and value for their customers. Every day, industrial professionals in 127 countries rely on PI System to improve operational performance, protect health and safety, keep the lights on, and make the world run more smoothly. Learn why two-thirds of Global Fortune 500 industrial organizations choose PI System at www.osisoft.com, Rose Bambi 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. 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. For those keeping score, this represents a 10x-ish revenue multiple; AVEVA believes that the acquisition will be accretive to earnings in AVEVA’s fiscal 2022, ending 31 March 2022. The company’s engineering, planning and operations, asset performance, and monitoring and control solutions deliver proven results to over 16,000 customers across the globe. Schneider Electric has committed to vote in favor and subscribe on a pro rata basis. “Customers are driving for bigger and bigger scope. 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. . Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. 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 digitization vision. I see us becoming a very, very open infrastructure making more data available for more applications.” 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. $3.5 billion proposed Rights Issue. “What I see happening is we will never converge to a single turnkey system for everybody, what we have to do is accommodate everybody because there are hundreds of companies.” He described how based on his many years’ experience the basic tenant is greater value is achieved by increasing the scope of the data and users are embracing this. In addition, the pandemic has stimulated people’s thinking about opportunities that can be unlocked through digitalization. This was discussed in a virtual meeting Aug. 25, 2020 with: Craig Hayman, AVEVA CEO The acquisition is expected to close in late 2020 or early 2021. 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. Aveva, a supplier of industrial software and services, has agreed terms to acquire OSIsoft, a supplier of real-time industrial data software and services for $5 billion. The opportunity here that the new venture we have with OSIsoft gives us the ability to give customers solutions that can never have dreamt of some years ago.”. 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. . The acquisition will add scale, support industry diversification and accelerate digitalization. There are a lot of synergies and potential for OSIsoft to continue its growth with AVEVA. . This transformative deal for AVEVA, strengthens our position as a global leader in engineering and industrial software. High Cross $0.6 billion share consideration to be issued to Estudillo Holdings Corp. resulting in Dr. J. Patrick Kennedy owning over 4% of the enlarged company. 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. With a combined 93 years of operating expertise and experience, they share a history of meeting the rapidly changing and evolving needs of their industrial customers, built on foundations of customer centricity and world-class talent. How will the AVEVA acquisition help OSIsoft grow? He continued, “Yes, there will be distributed historians they will be in the fork lifts, cars, machines. For further details about this announcement, please refer to the Regulatory News Service at: https://investors.aveva.com/. We don’t think that’s pragmatic because when you have to deploy a brand-new end to and platform you have to suspend all of human history where the world is naturally diverse in order to do that.” [email protected], Sard Verbinnen & Co Automation & IIoT; Aveva Acquires Osisoft: Deal Accelerates Industrial Enterprise Digitalization. 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. OSIsoft's J. Patrick Kennedy. 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. Building Stakeholder Value and Improving Sustainability. There will be a lot more software generated to automatically spin up things like intelligent forklift, historian or whatever.”. 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. The hybrid AVEVA/Schneider Electric relationship is intriguing, and with the addition of OSIsoft provides another valuable dimension. [email protected], AVEVA Group plc Today’s announcement is the culmination of a thoughtful search for a respected organization that would mesh with our own strong mission- and customer-driven culture. 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. . Founded in 1980 by Dr. J. Patrick Kennedy, OSIsoft is a global leader in real-time industrial data software and services. Emily Claffey / Ben Spicehandler / Tori Goodell Its customers are supported by the largest industrial software ecosystem, including 4,200 partners and 5,700 certified developers. 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. Philip Aiken: “Coming as a customer from the oil & gas and mining industry there has been incredible growth over the last few years of more and more data being available to run operations," Aiken explained. 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