Welcome to our dedicated page for Aspen Technology news (Ticker: AZPN), a resource for investors and traders seeking the latest updates and insights on Aspen Technology stock.
Aspen Technology, Inc. (symbol: AZPN) is a global leader in asset optimization software, providing solutions that enhance the performance, monitoring, management, and optimization of assets in capital-intensive industries. Founded in 1981, AspenTech's heritage business focuses on optimizing engineering, manufacturing, supply chain, and asset management functions. The company's cutting-edge solutions empower clients to design, operate, and maintain their operations, achieving goals in profitability, safety, and sustainability.
In 2021, AspenTech underwent a significant transformation when Emerson Electric acquired a 55% stake in the company through a $6 billion transaction, which included Emerson's Open Systems International (OSI) and subsurface science and engineering (SSE) businesses. This merger created a new AspenTech, combining the capabilities of the heritage Aspen, OSI, and SSE to serve over 3,000 customers across 40 countries.
Today, AspenTech continues to innovate and expand its product offerings, helping industries ranging from chemicals and energy to pharmaceuticals and mining. The company's software solutions are specifically designed to optimize asset performance, improve operational efficiency, and enhance sustainability efforts. With a strong financial foundation and strategic partnerships, AspenTech is well-positioned to continue leading the market in asset optimization.
Recent achievements include notable advancements in digital grid management through OSI and enhanced capabilities in subsurface science via SSE. These developments align with AspenTech's commitment to providing comprehensive solutions that address the evolving needs of modern industries. The company's ongoing projects and initiatives reflect its dedication to driving growth and delivering value to its customers and shareholders.
Latest News:
- ST. LOUIS, Feb. 7, 2024 — Emerson reported first-quarter results for the fiscal year 2024, highlighting exceptional performance in key financial metrics.
- ST. LOUIS, May 8, 2024 — Emerson announced second-quarter results for the fiscal year 2024, showcasing continued sales growth and margin expansion.
Aspen Technology, Inc. (AZPN) reported strong financial results for Q2 FY2021, ending December 31, 2020, with total revenue of $233.7 million, up from $72.4 million year-over-year in license revenue alone. Net income surged to $129.2 million, translating to $1.89 per share, compared to $0.58 in the same period last year. The company generated $38 million in free cash flow and anticipates annual spend growth of 6-8% for FY2021. AspenTech also secured significant customer commitments, including a notable $75 million deal with a leading global oil company.
Aspen Technology, Inc. (NASDAQ:AZPN) will release its second-quarter fiscal 2021 financial results on January 27, 2021, after market close. A conference call to discuss these results and the business outlook will follow at 4:30 p.m. (ET) on the same day. Interested parties can join the call using the dial-in numbers provided or listen via a live webcast on AspenTech’s Investor Relations website. A replay will be available until February 3, 2021.
Aspen Technology, Inc. (NASDAQ:AZPN) has appointed David Leitham as Senior Vice President and General Manager to spearhead its growth strategy within the pharmaceutical sector. With over 25 years of experience in the pharmaceutical industry, Leitham aims to expand AspenTech's market presence and drive product strategy. Previously, he led double-digit growth in software revenue at Thermo Fisher Scientific and has a strong background in mergers and acquisitions. CEO Antonio Pietri underscores the importance of this leadership change for advancing operational excellence in the industry.
Aspen Technology (NASDAQ:AZPN) has joined the Alliance to End Plastic Waste, an international non-profit organization aimed at combating plastic waste. The collaboration focuses on fostering sustainable innovation in the plastic value chain, enhancing efficiency in industrial processes, and promoting recycling technologies. AspenTech will contribute funding and AI resources to this initiative. CEO Antonio Pietri emphasized the company’s commitment to addressing global plastic waste challenges.
Aspen Technology, Inc. (NASDAQ: AZPN) has acquired OptiPlant, enhancing its asset optimization solutions for process industries. The acquisition is aimed at improving collaboration between owner-operators and EPC companies, utilizing AI-driven 3D plant layouts that enhance cost estimate accuracy. OptiPlant's technology complements AspenTech's existing products, potentially reducing CAPEX and accelerating engineering processes. The terms of the transaction remain undisclosed.
Aspen Technology, Inc. (NASDAQ:AZPN) announced that CEO Antonio Pietri will present at the virtual Nasdaq Investor Conference on December 1, 2020, at 7:30 a.m. ET. The presentation will be available for live webcast on the Investor Relations section of the company's website. AspenTech is known for its asset optimization software, which is designed for complex industrial environments to enhance asset design, operation, and maintenance. The company combines extensive process modeling expertise with artificial intelligence to maximize asset performance and sustainability.
Aspen Technology (NASDAQ:AZPN) announced a significant partnership with Hengli Petrochemical (Dalian) Refinery, a Fortune Global 500 company in China. Hengli has adopted Aspen DMC3 software to accelerate its digital transformation and enhance operational efficiency at its integrated refining and chemical plant. This collaboration aims to optimize asset performance and support Hengli’s intelligent plant strategy, allowing for greater operational speed and sustainability through advanced process control technologies.
Aspen Technology (NASDAQ: AZPN) has acquired Camo Analytics AS, a Norwegian provider of industrial analytics solutions. This strategic acquisition enhances AspenTech's portfolio, particularly in pharmaceuticals and biotech, aiming to boost performance, profitability, and quality consistency. Camo’s Unscrambler suite, used by over 25,000 professionals, provides advanced data analysis capabilities, aligning with AspenTech's focus on asset optimization. Terms of the transaction have not been disclosed.
Aspen Technology (NASDAQ:AZPN) received a notice from Nasdaq on November 12, 2020, for not timely filing its Annual Report on Form 10-K for FY ended June 30, 2020, and its Quarterly Report on Form 10-Q for Q1 2021. Despite this, there is no immediate impact on trading or listing. AspenTech submitted a plan for compliance, which, if accepted, may grant them an extension until March 15, 2021, to regain compliance. The delay was due to additional errors in prior fiscal year's transition adjustments related to revenue recognition standards.
Aspen Technology, Inc. (NASDAQ:AZPN) announced it will release selected financial results for Q1 fiscal 2021 on November 5, 2020, after market close. This will include preliminary Annual Spend, cash, and total debt figures as of September 30, 2020. The full financial results are delayed due to additional time needed for filing its 2020 Form 10-K, impacted by errors in prior fiscal year adjustments related to revenue recognition standards. However, the company does not expect these errors to significantly affect previously reported financials.
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