Aspen Technology
| Aspen Technology, Inc.
|
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|---|---|
 |
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| legal form | Corporation |
| ISIN | US0453271035 |
| founding | 1981 |
| Seat | Bedford , United States |
| management | Antonio Pietri , President and CEO |
| Number of employees | 1419 |
| sales | $ 483 million |
| Branch | software |
| Website | www.aspentech.com |
| As of June 30, 2017 | |
Aspen Technology, Inc. (short AspenTech , Aspen stands for A dvanced S ystem for P rocess En neering) is an American software manufacturer for process simulation ssoftware that is used for modeling, simulation and optimization of chemical processes and equipment. The corporate headquarters are located in Burlington, Massachusetts.
history
AspenTech was founded in 1981 by Larry Evans, a professor of chemical engineering at MIT . The company's goal was to further develop processes developed at MIT with public funding and to be able to use them commercially. The central property of the new technology was the mapping of chemical processes in flow diagrams and the integration of thermodynamic models into this system.
AspenTech initially focused on the chemical sector and expanded in particular through acquisitions. In addition to the original process simulation, AspenTech has developed further in the direction of the complete management of chemical plants, especially through these acquisitions. In addition to software sales, AspenTech also generates high income through training and consulting.
In 1994 AspenTech went public and is listed on the NASDAQ .
Today AspenTech is the undisputed market leader and has won almost all large companies in the chemical and many in the oil and gas processing industry as customers.
Hyprotech
Hyprotech was a Canadian competitor whose customers mainly came from the petroleum processing industry. As a result, Hyprotech was an interesting addition to AspenTech, the majority of whose customers come from the chemical industry. In addition, the software had major overlaps with the AspenTech software, so that great potential for synergy effects was hoped for.
In 2002, Hyprotech was acquired for $ 100 million. AspenTech, however, failed to report this purchase by a large competitor to the US Federal Trade Commission (FTC ), which finally banned the merger because of its dominant position and ordered Hyprotech to restore.
In 2004, AspenTech had to make the acquired development rights available to another competitor for competitive reasons. The development rights were acquired from Honeywell for a price of $ 2 million. AspenTech retained the marketing rights and the rights to the product names and developed these technologies further and integrated them into the existing AspenTech solutions.
Web links
Individual evidence
- ↑ a b AspenTech 2017 Form 10-K Report , accessed September 10, 2017
- ↑ Public announcement of the Hyprotech purchase ( Memento of October 24, 2006 in the Internet Archive )
- ^ Order of the FTC on the assignment of Hyprotech
- ↑ Message from Honeywell regarding the purchase of Hyprotech ( Memento of August 29, 2007 in the Internet Archive )