Emerson to purchase OSI Inc. for $1.6 B
Emerson has agreed to acquire Open Systems International, Inc. for $1.6 billion in an all cash transaction.
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USA, Missouri, St. Louis: Emerson has agreed to acquire Open Systems International, Inc. for $1.6 billion in an all cash transaction.
OSI Inc. is an operations technology software provider that broadens and complements Emerson’s software portfolio and ability to help customers in the global power industry, as well as other end markets, in their quest to transform and digitise operations to more seamlessly incorporate renewable energy sources and improve energy efficiency and reliability.
By combining Emerson’s technology in power generation with OSI Inc.’s complementary software and reach within the power transmission and distribution sectors, the acquisition will equip customers with the end-to-end ability to monitor, control and optimise real-time operations across the power enterprise through scalable, software-enabled automation and data management.
“An enormous change is underway as utilities globally are investing to digitise the grid and adapt to rapidly evolving energy sources and new technologies that increase consumer choices,” said Lal Karsanbhai, executive president of Emerson’s Automation Solutions business. “This acquisition will help the power industry maximise the opportunity to harness renewable energy sources and to accelerate the transformation to the smart power grid.
OSI Inc.’s modular technology offers customers tailored solutions for their power grid management needs and is scalable to other industries. Combining this technology with Emerson’s Ovation control system will provide utility customers with increased visibility into the current status of their power system, enabling the ability to optimise energy efficiency from generation through customer delivery –enabling the broader industry goal of minimising carbon footprint.
“Emerson and OSI share a commitment to customer service and offering advanced technologies to help customers manage the reliability and resiliency of the electric grid,” said Bahman Hoveida, President and CEO of OSI Inc. “We are excited to combine our technologies, engineering expertise, and customer service not only to better serve our electric power customers but also to expand the reach of this critical software into other industries with the Emerson team.”
The acquisition is expected to close in early fiscal 2021.
Source: Emerson