OSIsoft LLC, a San Leandro, Calif.-based operational intelligence company, received a significant minority equity investment from SoftBank Group (TYO: 9984).
The amount of the deal was not disclosed. SoftBank purchased the significant minority interest in OSIsoft from Kleiner Perkins Caufield & Byers (Kleiner Perkins), TCV and Tola Capital. Last year, Mitsui & Co. became an investor in OSIsoft and maintains its ownership stake.
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.
Led by Dr. J. Patrick Kennedy, CEO and founder, OSIsoft provides the PI System, which captures data from sensors, manufacturing equipment and other devices and transforms it into real-time insights to enable users to improve 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 expanding into food and beverage, facilities and transportation. The PI System can be found inside solar farms, breweries, data centers, cruise ships, leading research laboratories, power grids, stadiums and smart devices everywhere.
The solution, used by over 1,000 utilities, large oil and gas companies and industrial companies actively handles over 1.5 billion sensor-based data streams worldwide.