Aspentech (Korea Branch Representative Kim Heung-sik) is set to enter new markets such as pharmaceuticals after successfully completing a transaction with Emerson. It is expected to strengthen its global industrial software leadership through securing funds worth up to 6 billion dollars (approximately 7.6 trillion won) and ownership of the new company.

AspenTech held a press conference on the 17th and announced that it had recently completed a business transaction with Emerson.

The transaction will bring Emerson's Open Systems International (OSI) and Geological Simulation Software (GSS) into AspenTech. GSS will change its name to SSE (Subsurface Science & Engineering) and plans to expand its business to comprehensive earth science and subsurface engineering.

Emerson will pay AspenTech $6 billion in cash and in return will receive a 55% stake in AspenTech.

Emerson plans to secure management rights for AspenTech, retain the current management team, and participate in management through the board of directors.

Through this transaction, AspenTech will have over 3,700 employees in 62 offices in 41 countries around the world, and plans to actively explore new markets such as bio, carbon neutrality, and renewable energy in addition to its existing petrochemical and gas-related businesses.

“AspenTech has received strong support from our customers, who are excited about the new innovations and the expansion of leading technologies acquired through this transaction,” said Antonio Pietri, AspenTech President and CEO, at a press conference today. “Customers are already recognizing the benefits of this combination, which will enable them to improve their business performance through greater efficiency and innovation, and achieve their sustainability goals.”

Additionally, “AspenTech believes that OSI and SSE customers will realize their potential value by working with AspenTech and benefit from 40 years of innovation and software leadership in capital-intensive industries. “Especially for companies that are in the early stages of digitalization, we can serve as a guide on their journey, leveraging our expertise in supporting innovation in the oil and gas and chemical industries.”

AspenTech is a global leader in industrial software for capital-intensive industries, enabling them to operate more safely, greener, longer-term and faster by optimizing their assets.

AspenTech, newly born through this transaction, is developing new services such as △digital grid management △geosphere science and engineering, and is providing services in markets such as △oil and gas △electricity △chemical △pharmaceutical △EPC △metals and mining.

We have been in business for over 40 years, have over 3,000 customers worldwide, have over 3,700 employees, and have established partnerships with 170 well-known global companies.

It generates more than $59 billion in annual revenue and reduces annual CO2 emissions by more than 16 million metric tons.

In recent years, the company has established a unique position as an industrial AI company by combining engineering modeling and AI (artificial intelligence) to provide data insights and domain expertise.

Self-optimizing plants also combine technologies and processes to predict future states and prescribe or automate actions that will help achieve sustainability and profitability goals.

In addition, the market is expected to grow in the future in relation to sustainability, and we are actively working to optimize sustainability and profitability through digitalization.