Aspen Technology Is Exploring Minority Stake Divestment: Bloomberg

  • Industrial software company Aspen Technology Inc AZPN is exploring options for a potential minority stake sale involving large industrial firms and buyout funds, Bloomberg reports.
  • Aspen manufactured software for companies in chemicals, manufacturing, energy, metals, and mining industries.
  • Big industrial companies had considered Aspen as a potential acquisition target.
  • Aspen’s high price expectations and management reluctance prevented it from becoming a full acquisition target.
  • Last year, AVEVA Group PLC AVEVF AVVYY agreed to acquire industrial software maker Osisoft for $5 billion. Emerson Electric Co EMR agreed to buy Open Systems International Inc for $1.6 billion.
  • In 2018, Rockwell Automation Inc ROK agreed to make a $1 billion equity investment in industrial software company PTC Inc PTC as part of a strategic partnership.
  • Last December, Honeywell International Inc HON agreed to acquire Sparta Systems for $1.3 billion to gain life sciences industry technology. Honeywell decided to transfer its listing to the Nasdaq to emphasize its technology focus.
  • Price action: AZPN shares traded higher by 1.3% at $139.3 on the last check Wednesday.
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