Aspen Technology and Dynamic Optimization Technology Products settle lawsuit.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Feb. 20, 1996 -- 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) and Dynamic Optimization Technology Products, Inc. (DOT Products) today announced that they have settled all pending legal claims between DOT Products and its principals, A.M. Morshedi and Jeffrey Renfro, and the Dynamic Matrix Control Corporation (DMCC DMCC Dubai Multi Commodities Centre DMCC Data Management and Coordinating Center DMCC Data Management Coordinating Committee DMCC Diploma in the Medical Care of Catastrophes DMCC Division Movement Control Center DMCC Depot Maintenance Control Center ) and its founder Charles Cutler Sir Charles Benjamin Cutler, KBE, ED (20 April 1918 - 23 September 2006) was an Australian politician, holding office for 28 years as an elected member of the New South Wales Legislative Assembly, who served as NSW Deputy Premier for 10 years and Country Party leader for 16 years. . AspenTech acquired 81 percent of the equity of DMCC on January 5, 1996. AspenTech and DOT Products will grant each other a non-exclusive royalty free license for the optimization software Free and Open Source software
Separately, AspenTech and A.M. Morshedi, president of DOT Products, announced that AspenTech has acquired Morshedi's 19 percent equity ownership of DMCC for $3,000,000. AspenTech also announced today in a separate release that is has completed its previously announced acquisition of Setpoint, Inc. DOT Products is a developer and marketer of advanced control and real-time optimization software for the process industries. DMCC is a supplier of advanced control and real-time optimization solutions, including both software and services, to the process industries. Aspen Technology, Inc., 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 is headquartered in Cambridge, Massachusetts This article is about the city of Cambridge in Massachusetts. For the English university town, see Cambridge, England. For other places, see Cambridge (disambiguation). Cambridge, Massachusetts is a city in the Greater Boston area of Massachusetts, United States. , with offices in eight countries worldwide. CONTACT: Mary A. Palermo Aspen Technology, Inc. (617) 577-0100 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion