Emerson and AspenTech announced the successful closing of the combination of Emerson’s industrial software businesses – OSI Inc. and its Geological Simulation Software business – with AspenTech to create a global industrial software leader which will continue to operate under the AspenTech name. With the close of the transaction, Emerson owns 55% of ‘new AspenTech’ on a fully diluted basis and AspenTech shareholders own the remaining 45%.
“I am excited to announce the close of our transaction with AspenTech, which accelerates Emerson’s software strategy and creates an enhanced, high-performance, leading industrial software company with immediate scale and relevance in a fast-paced, evolving market,” stated Lal Karsanbhai, president and chief executive officer of Emerson. “Today marks a significant milestone for Emerson and is a testament to our commitment to continue building a higher-growth, more diversified portfolio. Together with new AspenTech, we expect to realise significant revenue and cost synergies, while having the platform and flexibility to strategically deploy capital for growth through continued investment and mergers and acquisitions.”
Antonio Pietri, president and chief executive officer of new AspenTech, said, “We have now begun a new era at AspenTech, expanding our global leadership in industrial software by providing capabilities that support the entire lifecycle of complex operations across a wide range of industry verticals.
“With a comprehensive software portfolio, an expanded global sales channel and an even stronger balance sheet reinforced by Emerson, new AspenTech will be uniquely positioned to help our customers address the dual challenge of meeting the increasing global demand for resources in a sustainable manner. As we move forward, I am confident that new AspenTech is poised for significant growth and continued success as we deliver value for our customers, employees and shareholders.”
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