7th Aug 2020 19:10
(Alliance News) -Â AVEVA Group PLC on Friday, responding to press reports, confirmed it has entered into talks with PI System software maker OSIsoft LLC over a potential acquisition.
There can be no certainty the discussions will lead to agreement over a possible deal, the Cambridge-headquartered engineering & industrial software firm cautioned. A further announcement will be made in due course.
Bloomberg on Friday reported that AVEVA is in talks to buy OSIsoft for around USD5 billion, according to people familiar with the matter.
Shares in AVEVA closed up 3.0% at 4,505.00 pence in London on Friday.
The talks come not long after a major deal for AVEVA, when it in September 2017 agreed to combine with Schneider Electric SE's industrial software businesses. The combination, which was agreed after two previous failed attempts, saw Schneider Electric contribute software assets to AVEVA and make a GBP550 million cash payment to AVEVA shareholders in exchange for a 60% shareholding in the combined company.
By Lucy Heming;Â [email protected]
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