Aveva Group Plc has agreed to buy Osisoft in a deal that gives the SoftBank Group Corp.-backed industrial software maker an enterprise value of $5 billion.
About $4.4 billion of the deal will be paid in cash, funded by the balance sheet and a $3.5 billion rights issue, Cambridge, England-based Aveva said in a statement on Tuesday. The remainder will be funded with debt. Osisoft is jointly owned by SoftBank’s Vision Fund and founder and Chief Executive Officer J. Patrick Kennedy’s family.
