Schneider Electric: Areva plans to acquire OSIsoft
(CercleFinance.com) - Schneider Electric has announced that Aveva (in which it is a majority shareholder with 60.
2% of the capital) plans to acquire OSIsoft for a total of five billion dollars, a project which it says, represents a major step in Aveva's development.
OSIsoft's PI System is a leading platform in data acquisition and structuring for its customers, specialising in applications that are essential to Aveva and Schneider Electric's core strategies, it said.
Schneider Electric has agreed to guarantee approximately 60% of the bridge loan for Aveva and subscribe pro-rata to its stake of approximately 2.1 billion dollars in Aveva's proposed capital increase in order to finance the transaction.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
2% of the capital) plans to acquire OSIsoft for a total of five billion dollars, a project which it says, represents a major step in Aveva's development.
OSIsoft's PI System is a leading platform in data acquisition and structuring for its customers, specialising in applications that are essential to Aveva and Schneider Electric's core strategies, it said.
Schneider Electric has agreed to guarantee approximately 60% of the bridge loan for Aveva and subscribe pro-rata to its stake of approximately 2.1 billion dollars in Aveva's proposed capital increase in order to finance the transaction.
Copyright (c) 2020 CercleFinance.com. All rights reserved.