ST. LOUIS--(BUSINESS WIRE)--Emerson (NYSE: EMR) today announced it has completed the purchase of Open Systems International, Inc. (OSI Inc.) for $1.6 billion in an all cash transaction. OSI Inc. is a leading operations technology software provider helping customers in the global power industry, as well as other end markets, transform and digitize operations to more seamlessly incorporate renewable energy sources and improve energy efficiency and reliability.
Emerson’s domain expertise in power generation combined with OSI Inc.’s complementary software and reach within the power transmission and distribution sectors enables the end-to-end ability to monitor, control and optimize operations in real-time across the power enterprise.
The acquisition adds to Emerson’s existing $1 billion standalone software and associated engineering implementation services portfolio. Combining OSI Inc.’s advanced modular technology with Emerson’s Ovation control system will provide utility customers with the ability to optimize energy efficiency from generation through customer delivery, enabling the broader industry goal of renewables integration and grid stability.
OSI Inc. is headquartered in Minneapolis, MN and has approximately 1,000 employees globally.
The acquisition agreement announcement and accompanying presentation can be found at www.emerson.com/financial.
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the scope, duration and ultimate impact of the COVID-19 pandemic as well as economic and currency conditions, market demand, including related to the pandemic and oil and gas price declines and volatility, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.