Aspen Technology
Aspen Technology, Inc. (short AspenTech Aspen stands for Advanced System for Process Engineering ) is an American manufacturer of software for process simulation software, which is used for modeling, simulation and optimization of chemical processes and plants. The Group is headquartered 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 develop methods developed at MIT by public funding and to exploit commercially. Central feature of the new technique was the picture of chemical processes in flowcharts and the integration of thermodynamic models in this system.
AspenTech focused at the beginning on the chemical sector and in particular expanded through acquisitions. In addition to the original process simulation has AspenTech, in particular through these acquisitions, continued to develop in the direction of the entire management of chemical plants. In addition to software sales AspenTech also generates high revenue through training and consulting.
1994 AspenTech went public and is listed on the NASDAQ.
Today AspenTech is the undisputed market leader and has won nearly every major chemical companies and many of the oil and gas processing industries as customers.
Economic data
2005, revenue was $ 270 million at just over 1,300 employees. From sales accounted for about $ 129 million in software license revenue and over $ 140 million in revenue through services.
Hyprotech
Hyprotech was a Canadian competitor, whose customers are mainly from the petroleum refining industry. This was Hyprotech an interesting addition for AspenTech whose customers mainly come from the chemical industry. The software also showed a large overlap with the AspenTech software, so here is a large potential was hoping for synergy.
2002 Hyprotech was acquired for $ 100 million. However, AspenTech missed the message of this purchase a great competitor to the U.S. anti-trust (FTC, Federal Trade Commission ), which due to a dominant position finally banned the merger and the restoration Hyprotechs disposal.
2004 had to provide for competitive reasons, the acquired development rights to another competitor available AspenTech. The development rights were purchased from Honeywell at a price of $ 2 million. AspenTech retained the marketing rights and the rights to the product name and developing these technologies further and integrates them into the already existing AspenTech solutions.