AVEVA acquires OSIsoft to boost industrial enterprise digitalisation
AVEVA has partnered with OSIsoft to meet the expanding information management needs of industrial companies and accelerate their digital transformation. The partnership will bring OSIsoft’s data management together with AVEVA’s industrial software to create Performance Intelligence.
Providing greater operational agility and resilience, Performance Intelligence connects information and artificial intelligence (AI) with human insight, to enable faster decision-making, helping industries boost sustainability.
By pairing the capabilities of OSIsoft’s PI System with AVEVA’s industrial software, Performance Intelligence gives users the rich, reliable data they need to better measure and understand the entire industrial lifecycle. Performance Intelligence is forecast to have the most impact on organisational productivity, operational agility and sustainability.
“We stand in awe of the innovation of our customers — the people who operate our society’s essential industries — who use our technology every day to improve performance, protect health and safety, keep the lights on and make the world run more smoothly. They have inspired us to join forces with AVEVA so that we can broaden our scope and increase the value we can bring to their important work,” said Dr J Patrick Kennedy, OSIsoft founder.
The global big data and analytics market is growing and is projected to be worth $274 billion by 2022. Staying ahead of the curve requires a new understanding of the scope and scale of industrial information to leverage data effectively. Insights into industrial information from edge to enterprise reduces downtime, production costs and energy consumption — optimising resources and driving sustainability.
Craig Hayman, CEO at AVEVA, said the combined impact of AVEVA and OSIsoft will enable customers to manage complex industries more efficiently. Hayman added that this acquisition is a milestone for AVEVA, with the company paving the way to becoming the industrial software and data leader, and heralding the start of a new chapter for the industrial software market.
“Together we’re redefining the capabilities of industrial software. Through Performance Intelligence, we can see worlds of data from bold new angles, and inspire better understanding of complex value chains, to boost performance and drive sustainability. Our expanded capabilities elevate AVEVA’s commitment to deliver operational agility that turns opportunity into business value for our customers,” Hayman said.
Phil Aiken AM, Chairman of AVEVA Group, said the company’s sustained performance has laid the groundwork that enabled the acquisition of OSIsoft.
“Our joint portfolio of offerings and potential new capabilities will help deliver AVEVA’s long-term strategy for growth and market leadership in industrial software and information management by accelerating the solid growth trajectory and continuing to help customers on their digitalisation journeys,” Aiken said.
“This acquisition is a major milestone for AVEVA, enabling our team to draw on Dr J Patrick Kennedy’s vast leadership experience and domain expertise. We are honoured to continue the journey together with Pat in his new role as Chairman Emeritus,” Hayman said.
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