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Mitsui to Sell Its Interest in OSIsoft (United States)

Aug. 25, 2020


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Mitsui & Co., Ltd. ("Mitsui," Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) acquired a 5% shareholding in OSIsoft LLC. ("OSI") in March 2016. Mitsui has since supported the take-up of PI Systems developed and expanded by OSI through Mitsui's offices and branches around the world in accordance with a memorandum of understanding concerning a strategic alliance. Mitsui has also driven the establishment of IoT solutions powered by data utilization, productivity enhancements through the use of digital technology, and business model innovation, which realized operational improvements of its global group companies along with other results.

Mitsui, together with other shareholders, recently agreed to sell its entire shareholding in OSI to AVEVA Group plc, and concluded a share transfer agreement. The sale is expected to be completed around the end of 2020, after the necessary approvals have been obtained. The agreement was based on a corporate value of USD 5 billion (equivalent to 525 billion yen) for OSI. The sale price for Mitsui's equity will be USD 250 million (equivalent to 26 billion yen). The expected profit from this transaction has not been reflected in Mitsui's profit plan for the fiscal year ending March 2021.

In its Medium-term Management Plan 2023, Mitsui states that it will evolve portfolio management as its corporate strategy. This sale was executed as a part of its strategic asset recycling. Mitsui will continue to collaborate with OSI after the sale of its shareholding, primarily through support for sales of the PI System in Japan and overseas. The digitalization of industry is expected to accelerate. Mitsui will continue to create value through digital transformation, including the development of solutions based on the effective use of data, and the support for the frontline introduction and operation of those solutions.

1. Profile of OSIsoft LLC.

Location California, U.S.A.
Established 1980
Representative J. Patrick Kennedy
Shareholders Founder, SoftBank Vision Fund 1, Mitsui
Outline of business Development and sale of the PI System, IoT data management software

2. Profile of AVEVA Group plc (Buyer)

Head office Cambridge, United Kingdom
Representative Craig Hayman
Business activities Provision of engineering software and solutions that contribute to productivity improvements in industrial plants, the electric power sector, and shipbuilding operations
URL

https://www.aveva.com/

Information

For inquiries on this matter, please contact

Mitsui & Co., Ltd.
Investor Relations Division
Telephone: +81-3-3285-7657
Facsimile: +81-3-3285-9821
Mitsui & Co., Ltd.
Corporate Communications Division
Telephone: +81-80-6627-8452
Facsimile: +81-3-3285-9819
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