September 26, 2021

Volume XI, Number 269

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September 24, 2021

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CFIUS Clearance: AVEVA Group and OSIsoft, LLC

Status:  Clearance

Acquirer:  AVEVA Group plc (UK)

Acquired:  OSIsoft, LLC (US)

Value:  US$5 billion

Industry:  Software; Technology Services

On August 25, 2020, AVEVA Group plc, a “leader in industrial software,” and OSIsoft, LLC, a “leader in real-time industrial data software and services, [] announced an agreement for AVEVA to acquire OSIsoft for $5.0 billion.” (AVEVA Group Press Release, AVEVA and OSIsoft Combine Accelerating Digital Transformation of Industrial World, Aug. 25, 2020.)  “OSIsoft’s market-leading PI System is the proven system of record for operational data in essential industries: power generation and utilities, water, oil and gas, mining, manufacturing, pharmaceutical, facilities, transportation, and more.” (Id.)  On March 18, 2021, AVEVA Group announced that it “received all antitrust and regulatory clearances required ahead of completion of the Acquisition, including clearance by the Committee on Foreign Investment in the United States (CFIUS).”  (AVEVA Group Press Release, Acquisition of OSIsoft, LLC (OSIsoft): Update re CFIUS clearance, Mar. 18, 2021.) AVEVA Group announced that the transaction closed on March 19, 2021. (AVEVA Group Press Release, Completion of Acquisition of OSIsoft, LLC, Mar. 19, 2021.)

© Copyright 2021 Squire Patton Boggs (US) LLPNational Law Review, Volume XI, Number 161
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