Emerson Expands Commitment to Advanced Software Solutions with Agreement to Purchase Open Systems International, Inc. (OSI Inc.)
Emerson (NYSE: EMR) today announced it has agreed to acquire Open Systems International, Inc. (OSI Inc.) for $1.6 billion in an all cash transaction. OSI Inc. is a leading operations technology software provider that broadens and complements Emerson’s robust software portfolio and ability to help customers in the global power industry, as well as other end markets, in their quest to transform and digitize operations to more seamlessly incorporate renewable energy sources and improve energy efficiency and reliability.
Digitization is critical for the power industry to modernize and improve the reliability of the electric grid. Incorporating clean and renewable energy sources, such as solar and wind, requires balancing the variable nature of renewable energy with the often bi-directional demands of the grid. By combining Emerson’s domain expertise and leading technology in power generation 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 power enterprise through scalable, software-enabled automation and data management.
“An enormous change is underway as utilities globally are investing to digitize the grid and adapt to rapidly evolving energy sources and new technologies that increase consumer choices,” said Lal Karsanbhai, executive president of Emerson’s Automation Solutions business. “This acquisition will help the power industry maximize the remarkable opportunity to harness renewable energy sources and to accelerate the transformation to the smart power grid. Emerson now has the opportunity to be a leader in this large, rapidly growing market with a compelling and complete software and technology offering.”
OSI Inc.’s advanced modular technology offers customers tailored solutions for their power grid management needs and is scalable to other industries. Combining this technology with Emerson’s Ovation control system, which is a market leader for power generation control, will provide utility customers with increased visibility into the current status of their power system, enabling unparalleled ability to optimize energy efficiency from generation through customer delivery –enabling the broader industry goal of minimizing carbon footprint.