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AspenTech is a supplier of software for optimizing production processes in energy, petrochemicals, engineering and construction, as well as in other industries where products are manufactured using chemical processes. The use of applications integrated into the aspenONE software package allows refiners to implement advanced techniques to optimize design, process and delivery of finished products. As a result, customers are AspenTech able to reasonably increase capacity, increase profitability, reduce costs, and achieve the required level of energy efficiency.
History
2021
Emerson gets control of Aspen Technology in $11 billion deal
In October 2021, a deal was announced under which Emerson will transfer its software division to Aspen Technology. As the parties to the agreement emphasize, it is about joining one business to another, and not about buying and selling assets.
According to the terms of the agreement, Aspen will receive from Emerson a business related to the development of geological software, including RMS Well Correlation, RMS Mapping, RMS Structural Modeling and RMS Petrophysical Modeling, as well as the assets of Open Systems International (OSI; specializing in production technology software), which was absorbed by Emerson in 2020 for $1.6 billion.
Aspen shareholders will receive $87 and 0.42 shares of the new combined company for each of their Aspen securities. Their share will be 45%, and the controlling share of 55% will go to Emerson, which has pledged to pour $6 billion into the created business.
The companies valued the deal at about $11 billion, or $160 per share for shareholders, AspenTech, 27% higher than the company's closing price on October 6, 2021, the day before Bloomberg News reported that the pair was in talks.
The new company, still known and traded on the stock exchange as Aspen, will maintain its headquarters in Bedford, Massachusetts, and will be managed by current CEO Antonio Pietri. According to the latter, the deal will create a mechanism for future software acquisitions, while providing immediate cash value for AspenTech shareholders.
The transaction is expected to close in the second quarter, subject to AspenTech shareholder approval, regulatory approval and other normal conditions.[1]
Acquisition of software supplier for conceptual design OptiPlant
AspenTech January 26, 2021 announced the acquisition of the company OptiPlant, the solutions of which will be a significant contribution to the line for owners of enterprises and general contractors in the field of continuous production. The terms of the transaction were not disclosed. More details here.
2020: Purchase of industrial analytics services developer Camo Analytics
In November 2020, AspenTech announced the purchase of Camo Analytics. The value of the transaction the company chose not to publicize. More details here.
2019: Acquisition of Mnubo and Sabisu
On July 25, 2019, Aspen Technology, a development company software for optimizing production assets, announced the signing of an acquisition agreement, a company Mnubo the Canadian providing specialized technologies () and artificial intelligence AI analytical infrastructure in the segment () Internet of Things IoT located in, as well as a Monreale company the British Sabisu providing a flexible solution for the workflow visualization and operations of the enterprise. Read More. here
Notes
Stock price dynamics
| Ticker company on the exchange: | NASDAQ:AZPN |
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