Emerson’s Majority Owned Subsidiary, AspenTech, Announces Agreement to Acquire Metals and Mining Software Leader Micromine
27 July 2022 - 10:40PM
Business Wire
Acquisition will further AspenTech’s
diversification into metals and mining market through end-to-end
software provider
Emerson’s (NYSE: EMR) majority owned subsidiary, AspenTech
(NASDAQ: AZPN), today announced it has entered into an agreement to
acquire Micromine, an end-to-end mining software provider. This
acquisition will build on AspenTech’s leading software portfolio,
furthering its diversification strategy into the metals and mining
market and facilitating the digital transformation and
sustainability goals of the industry.
The transaction with AspenTech, which closed in May 2022,
accelerates Emerson’s software strategy and demonstrates commitment
to build a higher growth, more diversified and cohesive portfolio.
This proposed acquisition of Micromine is an example of how Emerson
and AspenTech will drive growth through continued investment and
M&A.
Micromine, headquartered in Perth, Australia, offers solutions
relevant to every step of the mining process from exploration,
evaluation, design and planning through production and
optimization. Micromine’s solutions are used at over 2,000 sites
across all major mining regions.
Following AspenTech’s completion of the proposed acquisition,
Emerson will continue to be a 55% shareholder in AspenTech.
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA),
is a global technology and software company providing innovative
solutions for customers in industrial, commercial and residential
markets. Our Automation Solutions business helps process, hybrid
and discrete manufacturers maximize production, protect personnel
and the environment while optimizing their energy and operating
costs. Our Commercial & 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.
About Aspen Technology
Aspen Technology, Inc. (NASDAQ: AZPN) is a global software
leader helping industries at the forefront of the world’s dual
challenge meet the increasing demand for resources from a rapidly
growing population in a profitable and sustainable manner.
AspenTech solutions address complex environments where it is
critical to optimize the asset design, operation and maintenance
lifecycle. Through our unique combination of deep domain expertise
and innovation, customers in capital-intensive industries can run
their assets safer, greener, longer and faster to improve their
operational excellence. To learn more, visit AspenTech.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly
historical may be “forward-looking” statements, which involve risks
and uncertainties, and Emerson undertakes no obligation to update
any such statements to reflect later developments. These risks and
uncertainties include the scope, duration and ultimate impact of
the COVID-19 pandemic and the Russia-Ukraine conflict, as well as
economic and currency conditions, market demand, including related
to the pandemic and oil and gas price declines and volatility,
pricing, protection of intellectual property, cybersecurity,
tariffs, competitive and technological factors, inflation, among
others, as set forth in the Company's most recent Annual Report on
Form 10-K and subsequent reports filed with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20220726005988/en/
Investor Contact: Colleen Mettler 314-553-2197 Media Contact:
Charlotte Boyd 952-994-8607
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