Aveva completes USD5 billion OSIsoft acquisition

(Alliance News) - Aveva Group PLC on Friday announced it has completed the USD5 billion acquisition of real-time data management software provider OSIsoft LLC.

The FTSE 100 information technology firm received the final required clearance for the acquisition on Thursday from the Committee on Foreign Investment in the United States.

OSIsoft is based in San Leandro, California.

In connection with the completion, Aveva issued 13.7 million shares to Estudillo Holdings Corp. Estudillo, majority owned by OSIsoft's founder Patrick Kennedy, holds a 50% stake in OSIsoft. Following the share issue, Kennedy will hold a 4.5% stake in Aveva.

Aveva first announced it was acquiring OSIsoft back in November.

Shares in Aveva were up 0.9% at 3,441.00 pence in London on Friday.

By Zoe Wickens; zoewickens@alliancenews.com

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