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By Mary Page Bailey | May 17, 2022
Aspen Technology Inc. (Bedford, Mass. ) announced the final touch of its transaction with Emerson Electric Co. (St. Louis, MO), including the incorporation of OSI Inc. and Geological Simulation Software (GSS) from Emerson to AspenTech. As a component of the final transaction, Emerson contributed $6 billion in money to AspenTech, which will be obtained through AspenTech shareholders, in exchange for a 55% stake in AspenTech. AspenTech to enter new and existing markets. The company now employs more than 3,700 people in 62 offices in 41 countries.
AspenTech provides its consumers with a highly differentiated portfolio of commercial software with the features to optimize the entire asset lifecycle across a wide variety of verticals. With this new set of solutions, AspenTech is now better placed to help its consumers solve the complexity of double-demand situations. to meet the resource development demand of a developing population in a cost-effective and sustainable manner.
“Industry leaders are at the forefront of dual challenges, and we are excited to apply our new combined expertise and innovation to them to achieve their sustainability and profitability goals,” said Antonio Pietri, President and CEO of AspenTech. are the ‘new’ AspenTech, providing our consumers with even greater scale, function and innovation, across a wide diversity of industries with the addition of OSI and GSS. “
Since its inception in the early 1990s, OSI has focused on optimizing transmission and distribution systems for application companies in the electric power sector, putting the company at the center of the global electrification imperative, and adding complexity management created from a broader set of renewable energy. . and other energy sources. The electric vehicle and application market represents a new opportunity for AspenTech to sell our existing responses to our commercial customers.
GSS’s business, which will now be known as Subsurface Science and Engineering (SSE), enables AspenTech to obtain an end-to-end solution for the oil and fuel supply chain with an extension to the chemical supply chain, ensuring that the entire tank is locked. at the fuel station and in chemical production. There is also an opportunity for long-term sustainable growth, as corporations continue to leverage underground technologies for carbon sequestration, geothermal and hydroelectric power, and rare extraction of steel from the earth for programs such as electric vehicle batteries.
“We have gained incredibly favorable feedback from consumers who are excited about our new inventions and the addition of the cutting-edge generation unlocked through this transaction,” Pietri added. degrees of power and innovation to improve business functionality and achieve sustainability goals.
“We, the consumers of OSI and GSS, will get a significant price through the partnership with AspenTech and take advantage of our 40-year history of innovation and software leadership in capital-intensive industries. Especially for corporations in the early stages of digitalization, AspenTech can advise them along their journey, leveraging our expertise to help revolutionize the oil, fuel, and chemical industries. »