Emerson agreed to acquire Open Systems International Inc. for $1.6 billion in an all-cash transaction.

OSI A.S., It is an operations technology software provider that expands and complements Emerson's software portfolio. It also has components that can help customers in the global energy industry and other end markets in their quest to transform and digitize operations to incorporate renewable energy sources more seamlessly and improve energy efficiency and reliability.

By combining Emerson's power generation technology with OSI A.Ş.'s complementary software, access to the power transmission and distribution sectors will be created. This acquisition will equip customers with the ability to end-to-end monitor, control and optimize real-time operations in the power enterprise through scalable, software-assisted automation and data management.

Lal Karsanbhai, Chairman of the Board of Directors of Emerson Otomasypn Solutions; "Globally, utilities are investing to digitize the grid and adapt to rapidly evolving energy sources and new technologies that are boosting consumer preferences. This acquisition will help the energy industry maximize the opportunity to use renewable energy sources and accelerate the transformation to a smart electricity grid."

OSI Inc.'s modular technology provides customers with tailored solutions for their power grid management needs and is scalable for other industries. Combining this technology with Emerson's Ovation control system will give utility customers greater visibility into the current state of their power systems and enable the ability to optimize energy efficiency from production to customer delivery, enabling the broader industry goal of minimizing carbon footprint.

OSI As Bahman Hoveida, Chairman and CEO; "Emerson and OSI share a commitment to providing customer service and advanced technologies to help customers manage the reliability and resilience of their electrical grid. We are excited to combine our technologies, engineering expertise and customer service not only to better serve our electric power customers, but also to expand the reach of this critical software with the Emerson team to other industries."

The acquisition is expected to be completed in early fiscal year 2021.