Aspen Technology Shares Jump Premarket On Potential Software Merger Deal With Emerson Electric

October 7, 2021 7:48 AM | 1 min read | Make a Comment

Emerson Electric Co EMR is discussing a deal to merge its software assets with Aspen Technology Inc AZPN to create an industrial software giant, Bloomberg reports.
The financial terms remain unknown.
Emerson aims to gain majority control of the combined entity for its shareholders.
Aspen would keep its public listing. Its management will stay on and run the combined software entity.
In 2020, Emerson agreed to acquire Open Systems International for $1.6 billion.
Aspen manufactures software for companies in industries. It has previously considered a range of options, including a sale of all or part of the company.
Price Action: AZPN shares are trading higher by 13.1% at $141.99 premarket on the last check Thursday.