AspenTech Completes Emerson Transaction, Strengthening Global Leadership in High-Performance Industrial Software

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COMPANY NEWS: New Diversified Company Delivers Broader Scale, Capabilities and Solutions

Aspen Technology, Inc., a global leader in industrial software, today announced the completion of its transaction with Emerson Electric Co., including the addition of Emerson’s OSI Inc. and Geological Simulation Software (GSS) businesses to AspenTech. In connection with the closing of the transaction, Emerson contributed $6.0 billion in cash to AspenTech, which will be received by AspenTech shareholders, in exchange for a 55% equity interest in AspenTech. Additionally, Emerson and AspenTech have entered into an enhanced business partnership that will allow AspenTech to enter new and existing markets. The company now employs more than 3,700 people in 62 offices in 41 countries.

AspenTech offers its customers a highly differentiated industrial software portfolio with the capabilities to optimize the entire asset lifecycle across a wide range of verticals. With this new set of solutions, AspenTech is now better positioned to help customers solve the complexity of the twin challenges of meeting the growing resource demands of a rapidly growing population in a cost-effective and sustainable way.

“Industry leaders are at the forefront of meeting the dual challenge, and we are excited to apply our newly combined expertise and innovation to help them achieve their sustainability and profitability goals,” said Antonio Pietri, President and CEO of AspenTech. “Today, we are the ‘new’ AspenTech, offering our customers even greater scale, capabilities and innovation, across a wide range of industries with the addition of OSI and GSS.”

Combined company

Since its inception in the early 1990s, OSI has focused on optimizing transmission and distribution systems for utility companies in the electrical industry, putting the business at the heart of the imperative electrification, including managing the complexity created from a broader set of renewables. and other energy sources. The utility and electrical market represents a new opportunity for AspenTech to sell our existing solutions to our industrial customer base.

The GSS business, which will now be known as Subsurface Science and Engineering (SSE), enables AspenTech to provide an end-to-end solution for the oil and gas supply chain with an extension to the supply chain. chemical supply, ensuring complete lock-down from tank to filling station and chemical production. There is also an opportunity for long-term sustainable growth as companies continue to leverage underground technologies for carbon sequestration, geothermal and hydropower, and rare earth metal mining for applications such as electric vehicle batteries.

“We have received extremely positive feedback from customers who are excited about our new innovations and the addition of advanced technology unlocked through this transaction,” added Pietri. “They already understand the benefits this combination will bring in helping them achieve higher levels of efficiency and innovation to improve business performance and achieve sustainability goals.

“We believe OSI and GSS customers will realize significant value by partnering with AspenTech and benefit from our 40-year history of innovation and software leadership in capital-intensive industries. Especially for companies that are in the early stages of digitalization, AspenTech can guide them through their journey, leveraging our expertise to help revolutionize the oil, gas and chemical industries. »

For more information on the transaction, visit the AspenTech transaction page.

About Aspen Technology

Aspen Technology, Inc. (NASDAQ: AZPN) is a global software leader that helps industries at the forefront of the global dual challenge meet the growing resource demands of a rapidly growing population in a cost-effective and sustainable way. . AspenTech solutions address complex environments where optimizing the design, operation and maintenance lifecycle of assets is essential. With our unique combination of deep domain expertise and innovation, customers in capital-intensive industries can manage their assets safer, greener, longer and faster to improve operational excellence. To learn more, visit AspenTech.com.

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