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SoftBank invests in industrial software firm OSIsoft

SAN FRANCISCO: SoftBank Group Corp said on Wednesday it was taking a significant minority stake in OSIsoft LLC, a privately held maker of industrial software used to manage plants and factories. The world's largest industrial companies, from General Electric Co to Siemens AG, have been incorporating more software into their manufacturing to cut costs and improve their supply chains. SoftBank is buying out venture capital investors Kleiner Perkins Caufield & Byers,The investment is in the "high hundreds of millions" and values OSIsoft at several billion dollars, people familiar with the matter said on condition of anonymity because of the confidential terms. SoftBank and OSIsoft declined to comment on the deal's valuation. But OSIsoft Chief Executive and founder Pat Kennedy said in a telephone interview that the company generates about $400 million in sales per year. The investment is likely to be offered to SoftBank's new $93 bi .. SoftBank founder and CEO Masayoshi Son has stated the Internet of Things was one his main investment themes and key to the company's $32 billion acquisition of semiconductor company ARM Holdings last year. "When I met Masa," Kennedy said, "he immediately brought up ARM and wanted to see how all the companies in his portfolio can work together." Kennedy added that OSIsoft want ..