Aveva, OSIsoft to accelerate digital transformation of industrial companies

Aveva, a global leader in engineering and industrial software, has joined forces with OSIsoft to meet the expanding information management needs of industrial companies and accelerate their digital transformation.

Craig Hayman, CEO at Aveva, said, “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. The combined impact of Aveva and OSIsoft will enable our customers to manage complex industries more efficiently. Our expanded capabilities elevate Aveva’s commitment to deliver operational agility that turns opportunity into business value for our customers.”

The combined portfolio brings OSIsoft’s world-class data management together with Aveva’s leading industrial software to unlock Performance Intelligence.

Providing greater operational agility and resilience, Performance Intelligence connects information and artificial intelligence (AI) with human insight, to enable faster and more accurate decision making, helping industries boost sustainability. By pairing the trusted capabilities of OSIsoft’s PI System with the leading industrial software of Aveva, Performance Intelligence gives the people behind essential processes the rich, reliable data they need to better measure and understand the entire industrial lifecycle. Areas where Performance Intelligence is likely to have the most impact will include organizational productivity, operational agility, and sustainability.

The global big data and analytics market is growing exponentially and 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 that data effectively. Insight into industrial information from edge to enterprise reduces downtime, production costs, and energy consumption – optimising resources and driving sustainability.

Philip Aiken AM, Chairman, Aveva Group said: “‘Aveva’s sustained performance and growth has laid the groundwork that enables the acquisition of a market leader such as 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.”

Aveva's software portfolio is driving digital transformation for over 20,000 customers globally, operational efficiency to empower people, industries, and communities.

Also commenting on the announcement, CEO and Chairman of Schneider Electric, supporting major shareholder and alliance partner of Aveva, Jean-Pascal Tricoire, said: “Aveva and OSIsoft joining forces creates an industrial software and data leader. Through its extended ecosystem and broader, deeper portfolio, Aveva delivers an enhanced level of efficiency to support the digital transformation of industries. We support Aveva’s agnostic approach, working in collaboration with customers and partners to offer integrated solutions that elevate performance and operational agility.”

“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,” said OSIsoft founder, Dr. J. Patrick Kennedy. “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.” — sandhya@khaleejtimes.com