Aspen Technology Combines inmation Software and AIoT Hub to Advance Customers’ Digital Transformation Strategies

Rhea-AI Summary

Aspen Technology (NASDAQ:AZPN) has rebranded its AIoT Hub to AspenTech DataWorks, merging with inmation Software to enhance its data management capabilities for industrial customers. This new business unit aims to facilitate digital transformation by integrating industrial data across organizations, addressing challenges related to data silos. Key offerings include centralized data governance, vendor-neutral connectivity, and advanced analytics support. The acquisition of inmation Software last October is positioned as a significant step in helping enterprises unlock greater value from their data strategies.

Positive

• Rebranding to AspenTech DataWorks enhances data management capabilities.
• Combining AIoT Hub with inmation Software strengthens offerings for industrial data.

Negative

• None.

Expanded AIoT Business Unit, now Known as AspenTech DataWorks, Enables Customers to Unlock Value from Data in Support of Profitability and Sustainability Goals

BEDFORD, Mass.--(BUSINESS WIRE)-- Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in industrial software, today announced it has combined its AIoT Hub with inmation Software to create an expanded business unit. Now known as AspenTech DataWorks, the rebranded business unit provides customers with a singular solution to access and manage their industrial data, whether at the plant level or enterprise wide, in support of their digital transformation strategies.

“A holistic data management strategy is the foundation of a successful digital transformation journey,” said Nicole Rennalls, VP and General Manager of AspenTech DataWorks. “Our customers need a flexible, scalable solution to harness the huge amounts of data being generated across the enterprise. AspenTech DataWorks provides this and uniquely meets the needs of the executive suite and plant floor, all at once.”

Asset-intensive industries looking to maximize value from industrial data often are challenged to do so securely and economically as the data is often trapped in different silos across the organization. AspenTech DataWorks addresses these challenges by aggregating and contextualizing data, both transactional and real-time, from assets across the enterprise using powerful integration technology. With this unique, industry leading offering, organizations are now able to realize successful digital transformation, with capabilities including:

• Data Governance – Centralized, flexible data management that supports contextualization and user access control, as well as encryption for all data types
• Connectivity – Vendor-neutral connectivity to all major OT and IT interfaces that allows organizations to integrate data from disparate sources and manage from a centralized system
• Data Integration– Value-added application enablement such as advanced analytics, decision support, and AI

The cornerstone of AspenTech DataWorks is inmation Software GmbH, one of the world’s leaders in the field of global and industrial real-time information management. AspenTech announced the acquisition of inmation last October. "The addition of inmation Software to the AspenTech portfolio is a huge step forward to help companies unlock more value from an industrial data strategy. The real-time data platform connects diverse systems and addresses many problems with data cleansing, contextualization and scalability," said Peter Reynolds, Principal Analyst, ARC Advisory Group.

For more information, visit AspenTech DataWorks.

About Aspen Technology

Aspen Technology (AspenTech) is a global software leader helping industries at the forefront of the world’s dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in asset-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.

© 2023 Aspen Technology, Inc., AspenTech, and the Aspen leaf logo are trademarks of Aspen Technology, Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230206005154/en/

Stephanie Jackman

AspenTech

+1 781-221-1965

Stephanie.Jackman@aspentech.com

Source: Aspen Technology, Inc.

FAQ

What is AspenTech DataWorks?

AspenTech DataWorks is the rebranded AIoT business unit of Aspen Technology that provides solutions for managing and integrating industrial data.

How does AspenTech DataWorks help businesses?

It helps businesses by aggregating and contextualizing data across the enterprise, thus supporting digital transformation.

What key features does AspenTech DataWorks offer?

Key features include centralized data governance, vendor-neutral connectivity, and advanced analytics capabilities.

What was the significance of the acquisition of inmation Software?

The acquisition enhances AspenTech's portfolio by providing tools for real-time data management and addressing issues like data cleansing and scalability.

What is the stock symbol for Aspen Technology?

The stock symbol for Aspen Technology is AZPN.