AspenTech Acquires IISYS, Inc.; Enhances Yield-accounting Software Technology.CAMBRIDGE, Mass.--(BUSINESS WIRE)--March 10, 1998--Aspen Technology, 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 IISYS IISYS Integrated Intelligence System Simulator , Inc., a developer of advanced software technology used by process manufacturers to collect, reconcile and report yield-accounting information. IISYS develops and markets yield-accounting solutions that combine object-oriented design Transforming an object-oriented model into the specifications required to create the system. Moving from object-oriented analysis to object-oriented design is accomplished by expanding the model into more and more detail. and a knowledge-based reconciliation algorithm to track inventory and material movements into, through and out of a processing plant. By reconciling information gathered from control and other plant systems, this technology enables manufacturers to accurately report production data to their ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. and other business systems. IISYS customers include Shell Services Co., Texaco Refining & Marketing, Inc., and other leading petroleum companies. Total cash consideration for the IISYS acquisition was $8.4 million, plus the assumption of $1.6 million in IISYS debt. The acquisition will be accounted for as an asset purchase. AspenTech anticipates it will post a one-time charge in connection with acquired in-process research and development of approximately $8.5 million, and believes that, excluding this write-off, this acquisition will not dilute fiscal 1998 earnings per share. "AspenTech's commitment to delivering world-class solutions as part of Plantelligence led us to IISYS, whose technology was designed with yield accountants in mind. Yield accounting is fundamental to bridging the gap between control systems and business systems in the process industries. We intend to combine advanced ADVISOR technology with our ProCount solution, enabling AspenTech to extend its leadership in the emerging Smart Manufacturing Systems market," said 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 AspenTech. "The synergy with AspenTech is perfect for IISYS," said Patrick Bell, president of IISYS, Inc. "ADVISOR already interfaces with several modules of AspenTech's Plantelligence(TM) suite. By integrating our best-in-class yield-accounting technology with the industry-leading Smart Manufacturing Systems suite, we will truly offer customers the ideal solution." About AspenTech 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., (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 1,300 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. Smart Manufacturing describes the integration of advanced modeling, automation and information technologies to create a computer system enabling customers to design, operate and manage their 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. AspenTech, Plantelligence, True Potential and the Aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass. 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 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion