In the latest tech and software news, AVEVA will acquire OSIsoft for US$5.0 billion, due to its latest agreement.
OSIsoft and AVEVA will combine their complementary product offerings, bringing together industrial software and data management to help customers in industrial and essential organisations accelerate their digital transformational strategies.
Speaking on the benefits that this agreement brings, CEO of AVEVA, Craig Hayman says: “This will not only help us service existing customers better but also open the flood gates to new opportunities which will accelerate the delivery of our digitisation vision.
“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.”
Other benefits that come from this integration includes the ability to provide full-stack solutions that span edge, plant and enterprise deployment models.
OSIsoft’s PI System enables customers to collect, normalise, store and stream-line real-time high-fidelity operations data to application, analytics and AI and ML platforms.
Founder and CEO of OSIsoft, Dr J. Patrick Kennedy says: “Together we will be better able to service the largest digital transformation projects in history, including across industry 4.0+ and IIoT.
“The next chapter in PI’s fifth decade will be exciting for our employees and customers …” continues Dr Kennedy.
“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.”