UK software provider Aveva to buy SoftBank-backed OSIsoft for $5b

REUTERS/Issei Kato

British industrial software provider Aveva Group is buying SoftBank-backed peer OSIsoft for an enterprise value of $5 billion, it said on Tuesday, as it seeks to expand its services with the California-based firm’s PI system.

Industrial companies have been incorporating more software into their manufacturing to cut costs and improve their supply chains, benefiting providers such as Cambridge-based Aveva, a member of Britain’s FTSE 100 index of leading shares.

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