AUSTIN, Texas & BEDFORD, Mass.--(BUSINESS WIRE)--Emerson (NYSE: EMR) and AspenTech (NASDAQ: AZPN) announced today they have teamed up to deliver asset optimization software solutions along with global automation technologies and operational consulting services. Together, the two industry leaders will help customers optimize production and drive operational excellence.
AspenTech’s broad suite of asset optimization software creates value across all phases of the asset lifecycle – design, operate and maintain – in capital intensive and complex projects and operations, supporting Emerson’s Project Certainty and Operational Certainty initiatives. Emerson’s global footprint, automation engineering services and software, extensive large-scale project execution and consulting capabilities complement AspenTech’s technology footprint. Collectively, these capabilities can be deployed as solutions in both conventional and cloud-based architectures.
“Emerson and AspenTech are both highly focused on digital technologies and services that deliver measurable improvements and value to our customers’ bottom line,” says David N. Farr, chairman and CEO of Emerson. “Together, we are well positioned to help our customers navigate the best path in this era of digital transformation and achieve Top Quartile performance.” Top Quartile is defined as achieving operations and capital performance in the top 25 percent of peer companies.
The alliance will initially focus on three key areas: engineering software, including high-fidelity simulation to help validate project design and train operators before start-up; manufacturing and supply chain software, including advanced process control software designed for highly complex operations; and asset performance management software to improve plant reliability.
“Working with Emerson, we will help more organizations drive higher total shareholder returns with a relentless focus on operational excellence,” says Antonio Pietri, president and CEO of AspenTech. “We look forward to helping make the best companies even better by optimizing the design, operation and maintenance lifecycle with software and insight to run assets faster, safer, longer and greener.”
Together, the two companies will provide holistic optimization strategies that rely on real-time data, advanced analytics enabled by machine learning, and rich process knowledge to bring measurable business improvements in production, as well as in the areas of reliability, safety and energy management.
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Our Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Emerson Commercial and Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. For more information visit Emerson.com.
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 AspenTech.com to find out more.