OSIsoft LLC, a leader in operational intelligence, has announced that SoftBank Group has acquired a significant minority equity interest in the company, the company said.
The transaction is part of SoftBank´s strategy to invest in companies laying the foundational infrastructure for the next stage of the Information Revolution. SoftBank believes OSIsoft embodies this strategy, having been a longtime leader in enabling large industries to harness the massive amounts of data generated by their operational technology assets.
As part of the investment, OSIsoft and SoftBank will collaborate on developing new products and services enabling digital transformation and the Industrial Internet of Things (IIoT), and strengthening OSIsoft´s presence in new markets.
SoftBank purchased the significant minority interest in OSIsoft from Kleiner Perkins Caufield & Byers (Kleiner Perkins), TCV and Tola Capital.
Kleiner Perkins and TCV first invested in OSIsoft in 2011 while Tola invested in 2012. Last year, Mitsui & Co. became an investor in OSIsoft and maintains its ownership stake.
OSIsoft´s PI System captures data from sensors, manufacturing equipment and other devices and transforms it into rich, real-time insights to reduce costs, improve overall productivity and/or create new services.
The company primarily focuses on six core markets–oil and gas; utilities; pharmaceutical development and production; metals and mining; pulp and paper; and water–and is rapidly expanding into food and beverage, facilities and transportation.
Wind developers leverage the PI System to increase power production and reduce maintenance costs while mining operations use it to meet their goals for environmental compliance. Water utilities save millions of liters of water a day by pinpointing leaks within the PI System. The PI System can be found inside solar farms, breweries, data centers, cruise ships, leading research laboratories, power grids, stadiums and smart devices everywhere.
SoftBank is a global technology player that aspires to drive the Information Revolution. SoftBank is comprised of the holding company SoftBank Group Corp. (TYO: 9984) and its global portfolio of companies, which includes advanced telecommunications, Internet services, AI, smart robotics, IoT and clean energy technology providers.