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 shares were up 6.7% in early trading Tuesday. Team Publishing Ltd UK based software company Aveva, majority-owned by French automation specialist Schneider Electric, struck a merger deal to acquire OSIsoft, the U.S.-based data management company for $5 billion. Their combined solution set will “optimise engineering, operations and performance, with unprecedented efficiency and value as a result of the integration of both businesses”. 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. 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”. 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. “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.”, Completion is expected to occur around the end of the year. OSIsoft’s PI System is used by its customers across 14,000 sites in 127 countries. “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. It delivers aggregation and visualization of real-time sensor, actuator and control data in an open infrastructure to support best-of-breed ecosystems. Aveva, OSIsoft, software The acquisition has compelling strategic rationale with strong operational and financial benefits. The next chapter in PI’s fifth decade will be exciting for our employees and customers, and I look forward to my continued involvement as Chairman Emeritus and shareholder.”, The Electric Mine Virtual Conference 2020 Papers, The Truck n Shovel 2019 Conference Papers, Trevali Mining has enlisted the help of Redpath Mining to restart its Caribou zinc-lead underground mine near Bathu…. 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