Aspen Technology has agreed to acquire Hyprotech, a leading supplier of process simulation and engineering software and services to the petroleum industry. As a result of this acquisition, AspenTech expects to deliver more powerful solutions that are easier to use than those currently available, and that it will do so more rapidly and cost-effectively than has been possible previously.
AspenTech is a leading supplier of process simulation and engineering solutions to the chemicals and pharmaceuticals industries while Hyprotech develops and markets software solutions designed to improve profitability and operating performance for process industry clients by simulating plant design and operations.
The engineering technologies provided by AspenTech and Hyprotech are highly complementary. "Both our organisations understand the value models bring to business decision-making and, combining their resources, will accelerate the delivery of innovative, integrated and open solutions," says AspenTech Africa's director, business consulting, Dr Ralph Grob.
AspenTech will integrate Hyprotech into its newly created engineering products business unit. As with previous AspenTech acquisitions, the two companies have created an experienced integration team to optimise the alignment of the two organisations. While continuing to support and develop both companies' flagship products, the integration team will merge respective technologies, establish migration paths and identify best practices to favourably impact the design of next generation product offerings. AspenTech believes these initiatives will enable the company to quickly realise its integration goals, while remaining focused on meeting the corporate growth, cost-savings and profitability objectives it has established for the current fiscal year and beyond.
About Hyprotech
Hyprotech, a Calgary-based subsidiary of AEA Technology (LSE: AAT), is a leading supplier of simulation and engineering software and service solutions to the process industries, including exploration and production, air separation, gas processing, refining, petrochemical, bulk chemical, specialty chemical, pharmaceutical, pulp and paper and food and beverage. Hyprotech focuses on innovative simulation of plant design and operations and knowledge deployment to provide its clients with improved profitability and operating performance throughout the enterprise lifecycle. In addition to software, Hyprotech also offers in-depth services in modelling, operator training, and realtime optimisation to enable its clients to maximise return on investment. Hyprotech serves more than 17 000 users in over 80 countries, including more than 50% of the world's refineries and more than 90% of the world's gas processing companies. Hyprotech has more than 450 employees worldwide and includes among its customers BP, Conoco, Shell, Exxon-Mobil, UOP and Praxair.
About AspenTech
Aspen Technology, is a leading supplier of integrated software and solutions to the process industries. The company's Aspen ProfitAdvantage solution enables companies to identify and maximise profit opportunities throughout their entire value chain - from the supply of raw materials, through the production of goods, to the delivery of final products to customers. The Aspen ProfitAdvantage solution encompasses engineering, manufacturing, supply chain and e-business collaboration technologies, providing the tools that enable manufacturers to design, optimise and execute business processes in realtime. Over 1200 leading process companies already rely on AspenTech's 21 years of process industry experience to increase revenues, reduce costs and improve capital efficiency. AspenTech's customers include: Air Liquide, AstraZeneca, Bayer, BASF, BP, Chevron, Degussa, Dow Chemical, DuPont, ExxonMobil, GlaxoSmithKline, Lyondell Equistar, Merck, Mitsubishi Chemical, and Unilever.
For more information contact: AspenTech Africa, tel 011 258 8771.
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