Emerson and AspenTech enter agreement on new software strategy
Emerson and AspenTech announced in a press release on Oct. 11 that the companies have entered into a definitive agreement to contribute Emerson’s industrial software businesses—OSI Inc. and the Geological Simulation Software business—to AspenTech to create a diversified, high-performance industrial software leader with greater scale, capabilities and technologies. Emerson will also contribute $6 billion in cash to new AspenTech, which will be received by AspenTech shareholders, in exchange for a 55% stake in new AspenTech. New AspenTech will offer a highly differentiated industrial software portfolio with the capabilities to support the entire lifecycle of complex operations across a wide range of industry verticals, including design and engineering, operations, maintenance and asset optimization.
The new company will retain the name AspenTech.
“We saw an attractive opportunity to accelerate our software strategy to capitalize on the rapidly evolving industrial software landscape and advance Emerson’s high value portfolio journey,” said Lal Karsanbhai, president and chief executive officer, Emerson. “Our customers are increasingly seeking partners to help realize stronger performance as they automate workflows in their facilities to optimize operations. New AspenTech will become an engine for both acquisition and organic growth.”
Following completion of the transaction, new AspenTech will have a global footprint with strong go-to-market capabilities and more than 3,700 employees.
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