UK-based industrial software provider Aveva has acquired OSIsoft for $5 Billion. SoftBank Group’s Vision Fund is selling its 44.7% stake OSIsoft for more than $2 billion in cash.
The acquisition will enable Aveva to broaden its relationships with existing and new customers and bring a more comprehensive product portfolio to the market. OSIsoft develops and sells software that manages industrial data. The acquisition will allow Aveva, which also sells industrial software, to combine product offerings.
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The acquisition is expected to close at the end of this year. Software providers are growing in business as industrial companies incorporate more software into their manufacturing to cut costs and improve their supply chains.
Source: Ukreuters
