Aveva and OSIsoft want to merge their complementary product offerings and combine industrial software and data management. The goal is to combine OSIsoft's PI System data management software with Aveva's software portfolio to create an integrated data foundation capable of generating big data, cloud and AI-driven insights to drive meaningful business outcomes for customers.
OSIsoft's PI system enables customers to collect, normalize, store and transfer real-time operational data with high accuracy to other applications or analytics and AI and ML platforms. The PI system acts as a centralized recording system for operational data and is designed for cloud-based scaling and data exchange within an organization.
OSIsoft says it works with over 1,000 of the world's leading energy and utility companies, 38 of the Global Fortune Top 40 oil and gas companies, all of the Global Fortune Top 10 metals and mining companies, 37 of the world's 50 largest chemical and petrochemical companies, and 9 of the Global Fortune Top 10 pharmaceutical companies.
Aveva specializes in industrial software that drives digital transformation across the capital and operational lifecycle of capital-intensive industries.
Coinciding with the announcement of the OSIsoft acquisition, the company unveiled its cloud-first strategy, which focuses on delivering core services in the cloud. As part of this strategy, Aveva also announced new solutions from its industry-leading Aveva Connect cloud platform - comprising Unified Engineering, Insight Guided and Advanced Analytics.
The company's solutions for engineering, planning, operations, plant performance and monitoring and control are in use for over 16,000 customers. Aveva is headquartered in Cambridge, UK and employs over 4,400 people across 80 locations in over 40 countries.