Emerson’s Software Units, AspenTech in $11 Billion Merger

Share post:

Emerson Electric said Monday that it is merging its software units with smaller rival Aspen Technology in a deal worth $11 billion, further expanding its industrial automation business that covers a wide range of sectors from utilities and mining to chemicals and automobiles.

The merged industrial software company would consist of Emerson’s grid modernization technology and geological simulation software, as well as AspenTech’s software products for the mining, manufacturing and pharmaceutical industries.

Emerson said the combined company’s software would also provide sustainability requirements in green energy markets such as biofuels, hydrogen and carbon capture.

The cash and stock merger announced Monday will be available for about $160 per share, and AspenTech shareholders would receive $87 and 0.42 shares of the merged company for each share they currently own.

Emerson will acquire a 55% stake and AspenTech shareholders will hold the remainder of the new company, which will retain the AspenTech name and will be chaired by current CEO Antonio Pietri.

The transaction, which is expected to be adjusted to earnings after the maiden year, is expected to be finalized in the second quarter of 2022.

For more information, you may view the original story from Reuters.


Related articles

Intuit lays off 1,800 people amid a shift to AI

Intuit, the company behind QuickBooks, Credit Karma, and TurboTax, is laying off 1,800 employees, which is about 10%...

Amazon reviews losing trust as number of fake reviews are uncovered

Amazon's customer review system, once trusted for its verified buyer opinions, is increasingly under scrutiny as more and...

Apple Vision Pro U.S. sales plummet

Apple's Vision Pro headset, priced at $3,500, is experiencing a significant drop in U.S. sales. Market analysts report...

Security research team claims to have helped avert a major supply chain attack

JFrog Security Research team continuously scans public repositories such as Docker Hub, NPM, and PyPI to identify malicious...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways