United States. Emerson announced an agreement to acquire Open Systems International, Inc. (OSI Inc.) for $1.6 billion in a cash transaction. OSI Inc. is an operations technology software provider that will enable Emerson to expand and complement its software portfolio and ability to assist customers in the global energy industry as well as other end markets.
By combining Emerson's domain expertise and power generation technology 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 optimize real-time operations across the energy enterprise through scalable automation and power management. software-enabled data.
"A huge shift is taking place as utilities globally are investing to digitize the grid and adapt to rapidly evolving energy sources and new technologies that increase consumer choice," said Lal Karsanbhai, executive president of Emerson's Automation Solutions business. "This acquisition will help the energy industry maximize the remarkable opportunity to harness renewable energy sources and accelerate the transformation to the smart grid. Emerson now has the opportunity to be a leader in this large, fast-growing market with a comprehensive and engaging technology and software offering."
OSI Inc.'s modular technology offers customers customized solutions for their power grid management needs and is scalable to other industries. Combining this technology with Emerson's Ovation power generation control system will provide utility customers with greater visibility into the current state of their power system, enabling an unparalleled ability to optimize energy efficiency from generation to customer delivery, which is the industry's broadest goal of minimizing the carbon footprint.
OSI Inc. is headquartered in Minneapolis, MN and has approximately 1,000 employees worldwide. The acquisition is expected to close early in fiscal 2021, subject to various regulatory approvals and other customary closing conditions.
