Aveva (AVV) has confirmed that it is in discussions to purchase industrial software maker OSIsoft, a US company backed by SoftBank (JP:9984). While no other details have been formally announced, insiders have told both Bloomberg and the Financial Times that Aveva is offering more than $5bn (£4bn) to seal the deal, and that an agreement could be unveiled within weeks.
The purchase of OSIsoft would further diversify Aveva’s end markets following its combination with Schneider Electric’s (FR:SU) industrial software business in 2018. OSIsoft’s systems are used across many industries – from manufacturing to pharmaceuticals – allowing customers to interpret real-time data from sensors.
The potential tie-up adds to a growing list of companies in SoftBank’s orbit that are changing hands. The Japanese conglomerate has come under mounting investor pressure over the performance of its Vision Fund. It has verified that it is in negotiations about the future of chipmaker Arm, saying it is looking at a potential sale or float. It is understood to be in talks with US giant Nvidia (US:NVDA), with a mooted price tag of over $32bn.
