AVEVA Completes Acquisition of OSIsoft...and so?

Posted by Joe Perino on Fri, Apr 09, 2021

AVEVA just announced that they had completed the acquisition of OSIsoft. The announcement was made in an analyst conference on Friday, March 19, 2021, with a one-hour webinar featuring AVEVA CEO Craig Hayman and OSIsoft’s Pat Kennedy, plus Rob McGreevy of AVEVA and Gregg Le Blanc of OSIsoft. AVEVA worked on the acquisition for over a year, and OSIsoft also had help from their investors and former SAP pitchman and entrepreneur, Shai Agassi. Interestingly enough, Michael Siemer, OSIsoft’s president, was not on the call.

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Categories: Cloud, Solution Vendor / Software Vendor, AVEVA

AVEVA Acquires OSIsoft in $5 Billion Deal

Posted by Joe Perino on Wed, Aug 26, 2020

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. The acquisition is expected to close in late 2020 or early 2021. AVEVA is to finance the deal through $4.4 billion of cash plus $600 million of stock, making Dr. Kennedy AVEVA’s largest private shareholder with 4.4% of the company. Dr. Kennedy will remain connected to AVEVA through a Chairman Emeritus role. AVEVA will raise the capital through $3.5 billion of rights issues plus $900 million of cash on their balance sheet. The deal represents a multiple of roughly 10X OSIsoft’s 1H-2020 annualized revenues, a multiplier similar to AspenTech’s, one of AVEVA’s major competitors.

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Categories: Cloud, Internet of Things (IoT), Industrial Software, AVEVA, Acquisition, OSIsoft