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 reported robust fourth quarter results for fiscal year 2022, with total revenue of $238.9 million, significantly up from $45.7 million in Q4 FY21. The company's license and solutions revenue rose to $177.3 million, while maintenance revenue reached $50.2 million. AspenTech reported net income of $57.2 million, translating to $1.13 per share, compared to a net loss of $0.23 in the prior year. Looking forward, guidance for fiscal 2023 includes projected total revenue between $1.14 billion and $1.20 billion, with anticipated ACV growth of 10.5% to 13.5% year-over-year.
Emerson (NYSE: EMR) announced the acquisition of Micromine, an end-to-end mining software provider, through its majority-owned subsidiary AspenTech (NASDAQ: AZPN). This strategic move aims to diversify AspenTech's software portfolio into the metals and mining market, supporting digital transformation and sustainability goals. The acquisition underscores Emerson's commitment to building a higher growth and diversified portfolio. Micromine's solutions are utilized at over 2,000 mining sites globally, enhancing operational efficiency across the mining value chain.
AspenTech (NASDAQ: AZPN) has announced its acquisition of Micromine for AU$900 million (approximately $623 million USD), enhancing its digital solutions for the mining sector. This acquisition provides AspenTech with a robust suite of applications critical for mining operations, aligning with industry goals of sustainability and efficiency. Micromine's technology is expected to drive AspenTech's growth, particularly in the Smart Mining Market, valued at approximately $11.5 billion in 2022. The transaction is projected to be accretive to AspenTech's cash flow within the first year post-acquisition.
Aspen Technology, Inc. (NASDAQ: AZPN) has appointed Robert 'Bob' Beauchamp to its Board of Directors, filling the final seat following the recent transaction with Emerson (NYSE: EMR). With over 30 years of experience in industrial technology and M&A, Beauchamp previously served as Chairman and CEO of BMC Software. CEO Antonio Pietri highlighted Beauchamp's leadership credentials as a significant asset for AspenTech's growth and sustainability initiatives. Beauchamp joins the Nominating and Corporate Governance Committee, aiming to leverage AspenTech's expertise in transforming industrial software.
Aspen Technology, Inc. (NASDAQ:AZPN) will announce its financial results for Q4 and fiscal year 2022, which ended on June 30, 2022, after U.S. markets close on August 8, 2022. The company plans to host a conference call and webcast on the same day at 4:30 p.m. ET to discuss these results and provide a business outlook. Interested parties can participate via dial-in or listen to a live webcast. A replay will be available until August 15, 2022. AspenTech is a leader in asset optimization software, assisting industries in meeting the growing demand for resources sustainably.
Aspen Technology, Inc. (NASDAQ:AZPN) announced its partnership with KH Neochem Co., Ltd. for the deployment of Aspen DMC3 advanced process control software. By standardizing on this technology, KH Neochem aims to enhance operational excellence across its plants, achieving real-time agility in operations. The software is designed to optimize processes and meet sustainability goals, including reduced emissions and waste. This collaboration signifies a strategic move towards digital transformation in the chemical sector.
Aspen Technology, Inc. (NASDAQ:AZPN) has announced upcoming presentations at investor conferences. CFO Chantelle Breithaupt will present at the Baird Global Consumer, Technology and Services Conference in New York on June 6, 2022, at 3:10 p.m. ET. Additionally, CEO Antonio Pietri and CFO Breithaupt will present at the William Blair Growth Stock Conference in Chicago on June 7, 2022, at 4:00 p.m. CT. These presentations will be available via webcast on the company's Investor Relations website.
Aspen Technology, Inc. (NASDAQ: AZPN) will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 23, 2022, at 1:50 p.m. ET. The presentation will feature Antonio Pietri, President and CEO, and Chantelle Breithaupt, CFO. Interested parties can access the live webcast on the company's Investor Relations website for a limited time.
AspenTech is a leader in asset optimization software, assisting industries in meeting the growing resource demands sustainably.
Aspen Technology (AZPN) has completed its acquisition of Emerson Electric's OSI and Geological Simulation Software (GSS) businesses for $6 billion. Emerson now holds a 55% stake in AspenTech, which aims to enhance market penetration through an extended commercial partnership. With more than 3,700 employees in 41 countries, AspenTech plans to leverage its diversified capabilities to address industrial sustainability and efficiency challenges. The GSS segment, renamed Subsurface Science and Engineering, will strengthen AspenTech's position in the oil and gas supply chain.
Emerson (NYSE: EMR) has successfully closed its merger with AspenTech, combining Emerson's industrial software assets with AspenTech to create a leading global software entity, referred to as new AspenTech. Emerson holds 55% ownership, while AspenTech shareholders retain 45%. The new AspenTech will trade under the symbol AZPN from May 17, 2022. This merger is expected to accelerate Emerson's software strategy, enhance its growth trajectory, and realize significant revenue and cost synergies in an evolving market.
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