Emerson creates new AspenTech owning 55% of it

Emerson announced that it has successfully closed combination of Emerson’s industrial software businesses – OSI Inc. and its Geological Simulation Software business with AspenTech. In the new AspecTech, Emerson holds 55% of share and AspenTech shareholders own the remaining 45%. Shares of new AspenTech started trading on NASDAQ under the ticker symbol “AZPN” (previously AspenTech’s ticker symbol) on May 17, 2022. "I am excited to announce the close of our transaction with AspenTech, which accelerates Emerson’s software strategy and creates an enhanced, high-performance, leading industrial software company with immediate scale and relevancy in a fast-paced, evolving market. Today marks a significant milestone for Emerson and is a testament to our commitment to continue building a higher growth, more diversified portfolio. Together with new AspenTech, we expect to realize significant revenue and cost synergies, while having the platform and flexibility to strategically deploy capital for growth through continued investment and M&A." says Lal Karsanbhai, President and Chief Executive Officer of Emerson “We have now begun a new era at AspenTech, expanding our global leadership in industrial software by providing capabilities that support the entire lifecycle of complex operations across a wide range of industry verticals,” said Antonio Pietri, President and Chief Executive...