Aveva acquires American software company OSIsoft

Aveva, British industrial software group, on Tuesday, affirmed its agreement to acquire its US rival and software company, OSIsoft, for $5 billion.

According to industry insights, Aveva’s intent to acquire the American company was influenced by clients’ rush to digitalise their operations during the coronavirus pandemic.

Speaking to press, Aveva noted that its interest in the company was further baited by OSIsoft’s striking records of strong growth, considering the extent to which the pandemic had jacked up the company’s traction.

As the need for digital transformation continues through the COVID-19 crisis, Aveva, as a company in business, will be “capitalising on the technological megatrends that are driving digital transformation,” a spokesperson from the company said.

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Going by the demand curve, which recently had consistently been on the increase, Aveva seems to be on the journey to dominate the market “as efficiency, flexibility, sustainability and resilience become increasingly urgent requirements for customers”.

However, beyond the significant impact of the pandemic, Aveva has converted more leads “due to its ability to drive efficiency, flexibility and sustainability for customers across a wide range of industries, with particularly good demand for Cloud solutions,” the spokesperson added.

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