The British software company Aveva takes over the American industrial software company Osisoft. The deal, which is expected to be completed by the end of the year, gives Osisoft a value of $ 5 billion.

Osisoft was founded in 1980 and sells software that companies use to manage real-time data. In this way, for example, conditions in a laboratory or factory can be monitored.

Together, the companies have an annual turnover of 1.6 billion dollars. The French industry group Schneider Electric, with a 60% stake in Aveva, supports the acquisition. Cambridge-based Aveva specialises in software and ICT services for the oil and gas industry. In the same sector there is also a large proportion of Schneider’s customers.