BEDFORD, Mass.--(BUSINESS WIRE)--Aspen Technology, Inc. (NASDAQ:AZPN), the asset optimization software company, announced it has acquired rights to Operator Training Simulator (OTS) framework software from Inprocess Technology and Consulting Group of Barcelona, Spain. Inprocess, developer of the OTS software, is a consulting service company supplying technological services to owner-operators in the oil & gas, refining and chemical process industries.
Today’s announcement extends AspenTech’s focus on asset optimization by enhancing its ability to meet the increased demand for Operator Training technology. AspenTech will now be able to offer a complete set of OTS software – adding technology that provides the end-user environment for plant operators and training instructors and helps to connect to the various process control systems that may be used in the real plant. This will complement and leverage our Aspen HYSYS® and Aspen Plus® solutions, which have long been used as virtual plant simulators at the core of OTS system deployments across the world.
Production and safety are paramount to owner-operators. Errors made by plant operators represent one of the leading causes of production losses and safety incidents. Therefore, many owner-operators mandate that operators be trained using Operator Training systems. This has been shown to lower operational risk and accelerate learning within a hands-on, safe and controlled environment. For example, oil & gas, refining, and chemical companies use OTS systems to help establish expertise and best practices among operators, reduce start-up time, and verify control and safety systems. Increasingly, Engineering Procurement & Construction (EPC) companies are also required to provide OTS systems for new plant construction projects as a part of the final deliverable.
Terms of the transaction were not disclosed.
Antonio Pietri, President & CEO, AspenTech
“As the de facto standards for process simulation, Aspen HYSYS and Aspen Plus already deliver tremendous value to owner-operators who increasingly are mandating OTS training to support safety and production goals. Adding Inprocess Technology and Consulting Group’s leading OTS framework can drive significant new value for our customers. It represents another important piece in a holistic approach to asset optimization, helping to improve operational reliability and performance throughout the asset lifecycle.”
AspenTech is a leading software supplier for optimizing asset performance. Our products thrive in complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modeling expertise with big data machine-learning. Our purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets faster, safer, longer and greener. Visit www.aspentech.com to find out more.
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