Aspen Technology Acquires Zyqad Limited.CAMBRIDGE, Mass.--(BUSINESS WIRE)--April 23, 1998-- Process Design Workflow Capabilities Enhance Plantelligence(TM) Suite Aspen Technology Aspen Technology (NASDAQ: AZPN) provides software and professional services to the manufacturing and process industries which allows companies to model, manage, and control their operations. AspenTech was founded in 1981 by MIT professor Dr. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AZPN), the leading provider of Smart Manufacturing software The following list of software modules are the manufacturing components of Baan's ERP (BaanERP) system, acquired by SSA Global in 2003 and subsequently by Infor at the end of 2006. It is listed here because it provides a comprehensive overview of the required software. See MES. and services for the process industries, today announced that it has acquired Nottingham, UK-based Zyqad Limited. Zyqad provides software for integrating, automating and managing workflow between engineers designing new process plants or improving existing facilities. Zyqad is the only integrated commercial solution that allows multiple engineers to use a consistent basis of data, knowledge and best practices throughout the engineering lifecycle of a process, from conceptual design through detailed engineering and into plant operations. The Zyqad Windows(R)-based software already integrates with Aspen aspen, in botany aspen: see willow. Aspen, city, United States Aspen (ăs`pən), city (1990 pop. 5,049), alt. 7,850 ft (2,390 m), seat of Pitkin co., S central Colo. Plus(R), AspenTech's process simulator, as well as other process simulators, design programs and CAD programs. Zyqad customers, including Fluor Daniel, Foster Wheeler, Snamprogetti, Unilever and Union Carbide Union Carbide Corporation (Union Carbide) is one of the oldest chemical and polymers companies in the United States, and currently has more than 3,800 employees. , have successfully used Zyqad's software on more than 100 engineering projects. AspenTech issued approximately 218,000 shares of common stock in the acquisition, which will be accounted for as a pooling-of-interests transaction. Excluding one time charges of approximately $75,000, the company does not believe this acquisition will result in material financial impact in fiscal 1998. "The Zyqad product and technology will allow AspenTech to significantly enhance the collaborative workflow capabilities of our Plantelligence(TM) suite in an area that is critically important to process manufacturers, as well as engineering and construction firms," commented Larry Evans
Larry Melvyn Evans (born March 23, 1932) is an American chess grandmaster and journalist. He has won the U.S. Chess Championship four times. , chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Aspen Technology, Inc. "AspenTech intends to offer the process design software as Aspen Zyqad(TM), an integrated engineering Integrated Engineering is a multi-disciplinary, design project based engineering degree program. Integrated Engnineering is a program created to meet the demand for engineers who are able to deal with a wide range of problems, often involving knowledge from several environment which supports our commitment to open systems. Together, the AspenTech and Zyqad offerings provide an unbeatable solution for integrating and optimizing the entire engineering work process." "Zyqad and AspenTech share a common vision for plant engineering that emphasizes rigorous modeling and design reuse," said Jim Madden mad·den v. mad·dened, mad·den·ing, mad·dens v.tr. 1. To make angry; irritate. 2. To drive insane. v.intr. To become infuriated. , founder of Zyqad Ltd. "The close strategic fit and tight product integration will enable customers to benefit immediately from gains in engineering productivity and quality." Fluor Daniel, a joint AspenTech/Zyqad customer, has been testing the Zyqad software integrated with Aspen Plus and other critical applications for 18 months on live projects, and is currently rolling it out to 1,300 process engineers at nine sites worldwide. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Madgy Fouad, vice president of process technology, Chemical & Specialties Operating Company operating company A business that engages in transactions with outsiders. , Fluor Daniel: "Immediate benefits we have experienced from integrating Zyqad and AspenTech software include a marked quality improvement from inputting data just one time and the ability to easily use our employees' expertise in every Fluor Daniel office by work sharing on projects, as each will have access to the database. The major beneficiary will be our clients as the productivity improves, and the work can be carried out in a shorter time frame." In a separate release today, AspenTech also announced a strategic alliance with Intergraph Corporation. Under the terms of the agreement, Intergraph and AspenTech will work together to develop and market integrated solutions for process and physical plant design, operations and management. This alliance, coupled with the Zyqad acquisition, directly supports AspenTech's goal of offering its customers integrated software Separate software components or applications that have been combined into one package. See integrated software package. solutions covering all aspects of the design, operation and management of process plants. ABOUT ASPENTECH Aspen Technology, Inc., (www.aspentech.com) is a leading supplier of software and services for the analysis, design and automation of process manufacturing The manufacturing industry that uses process control systems. See process control. plants in industries such as chemical, petroleum, pharmaceuticals, electric power, pulp and paper, and metals. Process manufacturers use AspenTech's solutions to improve the way they design, operate and manage their plants. These solutions enable customers to reduce their raw material, energy and capital expenses, meet environmental and safety regulations, improve product quality and shorten the time required to get new production processes on stream. AspenTech employs more than 1,400 and is headquartered in Cambridge, Mass., with offices in 21 countries worldwide. AspenTech software and services comprise the Plantelligence suite, the process industry's only complete solution for the Smart Manufacturing System market. Plantelligence brings intelligence to bear on the design, operation and management of manufacturing processes. Deep process knowledge, along with the integration with enterprise systems and the open field, brings manufacturing processes closer to True Potential(TM). -0- This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include the risks set forth under the caption "Risk Factors" in Aspen Technology's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended June 30, 1997, which factors are incorporated herein by reference. Aspen Zyqad, AspenTech, True Potential, Plantelligence and the Aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass. Aspen Plus is a registered trademark of Aspen Technology. All other marks are trademarks of their respective owners. CONTACT: Aspen Technology, Inc. Toni Lee Rudnicki or Mary Palermo 617/949-1000 tonilee.rudnicki@aspentech.com OR Schwartz Communications, Inc. Laura Kempke, 781/684-0770 laurak@schwartz-pr.com |
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