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A new, diversified to a wider scale, functions and solutions.
BEDFORD, Mass. , May 16, 2022–(BUSINESS WIRE)–Aspen Technology, Inc. (NASDAQ: AZPN) (“AspenTech” or “the Company”), a global leader in commercial software, announced the final touch of its transaction with Emerson Electric Co. (NYSE: EMR) (“Emerson”), adding the addition of OSI Inc. and Geological Simulation Software (GSS) from Emerson to AspenTech. money to AspenTech, which will be obtained through AspenTech shareholders, in exchange for a 55% stake in AspenTech. In addition, Emerson and AspenTech have contributed to an enhanced commercial component partnership that will allow AspenTech to enter new and existing markets. The company now employs more than 3700 more 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 assembling this dual challenge, 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. “Today, we are the ‘new’ AspenTech, providing our consumers with even greater scale, functions and innovation, across a wide diversity 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 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 positive feedback from consumers who are excited about our new inventions and the addition of the unlocked generation through this transaction,” Pietri added. “They already perceive the benefits this blend will bring by helping them achieve higher levels of potency. “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 consult them throughout their journey, leveraging our expertise to help revolutionize the oil, fuel, and chemical industries. »
For more information about the transaction, see the AspenTech transaction page.
About AspenTech
Aspen Technology, Inc. (NASDAQ: AZPN) is a global leader in software that is helping industries at the forefront of the global dual challenge meet the growing resource demand of a developing population in a cost-effective and sustainable manner. AspenTech responds are designed for complex environments where it is imperative to optimize the design, operation and maintenance lifecycle of assets. With our unique combination of deep domain expertise and innovation, clients in capital-intensive industries can manage their assets more safely and greenly. , longer and faster to improve your operational excellence. For more information, visit AspenTech. com.
© 2022 Aspen Technology, Inc. AspenTech and the Aspen Sheet logo are registered by Aspen Technology, Inc. All rights reserved.
Forward-Looking Statements
Statements in this press release that are not strictly old are likely to be “progressive” messages, implying dangers and uncertainties, and AspenTech assumes no legal responsibility to update such messages to reflect upcoming developments. These dangers and uncertainties come with the scope, duration and final effects of the COVID-19 pandemic and the Russian-Ukrainian conflict, as well as economic and financial conditions, market demand, adding similar to the pandemic and the decline and volatility in oil and fuel prices, pricing, protection of intellectual assets, cybersecurity, fees, technological and competitive factors, inflation, among others, as periodically discussed in the reports that AspenTech will file with the Securities and Exchange Commission (the “SEC”), adding annual reports on Form 10-K, quarterly periodic reports on Form 10-Q, existing periodic reports on Form 8-K and other documents filed with the SEC. These dangers, as well as other dangers related to the transaction with Emerson, were discussed in more detail in the definitive proxy on Schedule 14A filed with the SEC through AspenTech on April 18, 2022.
See the businesswire. com edition: https://www. businesswire. com/news/home/20220516005927/en/
Contacts
Media Contact Len DieterleAspenTech 1 781-221-4291len. dieterle@aspentech. com
Investor Contact Brian DenyeauICR 1 646-277-1251brian. denyeau@icrinc. com