PI System Software-Maker OSIsoft Being Acquired by AVEVA
The post PI System Software-Maker OSIsoft Being Acquired by AVEVA appeared first on POWER Magazine.
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.
“Combining AVEVA and OSIsoft is yet another significant milestone in our journey to achieving the ambitious growth goals that we have set,” Craig Hayman, CEO of Cambridge, UK-based AVEVA, said in a statement. “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.”
OSIsoft was established in October 1980 by Dr. J. Patrick Kennedy, who is still the company’s CEO. It was originally known as Oil Systems Inc. The company’s first iteration of the PI System, which stood for “Plant Information System,” debuted in 1985. Today, OSIsoft reports the system is used at more than 19,000 sites around the world, including at many power plants.…
