Aveva: hailed for planned acquisition of OSIsoft
(CercleFinance.com) - The Aveva share is up 3% in London after the engineering group - 60.
2% of which is owned by Schneider Electric - announced its plan to acquire OSIsoft, a provider of real-time industrial operational data services and software, for 5 billion dollars.
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 which is owned by Schneider Electric - announced its plan to acquire OSIsoft, a provider of real-time industrial operational data services and software, for 5 billion dollars.
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.