Aspen Technology

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Aspen Technology, Inc. is a provider of software and services for the process industries. Headquartered in Burlington, Massachusetts, USA, Aspentech has 34 offices in 27 countries, spanning 6 continents.

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History

Founded in 1981, Aspentech was born out a joint research project between the Massachusetts Institute of Technology (MIT) and US Department of Energy—an Advanced System for Process Engineering (ASPEN) Project.[1][2]

On July 15, 2004, AspenTech was required by the Federal Trade Commission to make divestitures in regard to an anti-trust ruling against its acquisition of HyproTech. This included divestment of batch and continuous simulation systems and integrated engineering software business (AXSYS).[3]

Aspen Technology was delisted from the NASDAQ on February 19, 2008 for failing to meet financial transparency guidelines of the NASDAQ exchange.[4] It has since been relisted.[1]

Corporate Turnaround

Over the past few years, under the leadership of Mark Fusco, AspenTech has attempted a corporate turnaround strategy.[5]

References

External links