Aveva to purchase US tech group OSIsoft in $5bn deal

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UK-based Aveva has agreed to amass OSIsoft, the SoftBank-backed US software program group, in a $5bn deal that guarantees to deepen consolidation within the know-how sector.

The tie-up is a win for SoftBank, which in 2017 bought a minority funding from OSIsoft’s earlier traders Kleiner Perkins, Know-how Crossover Ventures and Tola Capital.

SoftBank holds the funding in its $100bn Imaginative and prescient Fund, which is backed by Abu Dhabi and Saudi Arabian authorities funds.

The know-how sector has seen a wave of consolidation in latest months. In July, Analog Gadgets agreed to purchase rival chipmaker Maxim Built-in Merchandise in an all-stock transaction value $21bn.

OSIsoft, based in 1980, sells software program that firms similar to pharma and chemical substances group Merck use to handle real-time information, for instance, the circumstances within a laboratory or manufacturing plant. 

Cambridge-based Aveva is majority owned by French firm Schneider Electrical. Aveva stated earlier in August it was in talks to buy OSIsoft.

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