Business Wire | Dec 9, 2020 08:00AM EST

Aspen Technology Acquires OptiPlant

Dec. 09, 2020

BEDFORD, Mass.--(BUSINESS WIRE)--Dec. 09, 2020--Aspen Technology, Inc. (NASDAQ: AZPN), a global leader in asset optimization software, today announced the acquisition of OptiPlant to further strengthen the company's solutions for owner-operators and EPC companies in the process industries. AI-driven 3D conceptual plant layout with parametric asset models and automatic pipe routing enables closer collaboration between owner-operators and EPCs to improve accuracy, reliability and speed of cost estimates from the earliest project stages.

OptiPlant solutions enhance early layout optioneering saving capital, improving asset safety and environmental performance for owner-operators. They help EPCs increase agility and speed of Conceptual and Front-End Engineering Design (FEED) development, dramatically reducing the engineering effort. Common visualization accelerates collaboration between owner-operator and EPCs and between Process, Mechanical, Piping and Layout Engineering disciplines. OptiPlant's innovative approach to automated plant and piping layout integrates with AspenTech's industry leading modeling (Aspen Plus and HYSYS), cost estimating (Aspen Capital Cost Estimator) and FEED deliverables (ABE) systems.

"We are very pleased to add OptiPlant to our portfolio of solutions for Performance Engineering. The reputation of the team at OptiPlant for outstanding domain expertise in 3D conceptual layout combined with the innovation demonstrated in the proven solutions made it a great fit for AspenTech," commented David Arbeitel, Senior Vice President of Product Management at Aspen Technology. "This acquisition will help to expand AspenTech's vision for Industrial AI with the next generation of technology that includes AI-driven conceptual plant layouts which increase the variety and simplify option changes in early design decisions."

"Today, our customers need to identify new ways to reduce CAPEX, accelerate time to market and support safety and sustainability imperatives. OptiPlant's products complement and expand the AspenTech portfolio of products for capital project feasibility studies, conceptual design, FEED, and the interface to detailed design. We are looking forward to the taking the next steps of our journey with AspenTech," added Sonali Singh, CEO, OptiPlant.

The terms of the transaction are not disclosed.

About OptiPlantOptiPlant is a leading provider of AI Driven 3D Conceptual Design and Engineering Automation software to help owner operators and EPC optimize conceptual designs and estimates and accelerate development of Front-End Engineering Designs (FEED) to save capital, improve safety and reduce environmental impact. OptiPlant is headquartered in Walnut Creek, California.

About Aspen TechnologyAspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its 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 safer, greener, longer and faster. Visit AspenTech.com to find out more.

(c) AspenTech and the Aspen leaf logo are trademarks of Aspen Technology, Inc. All rights reserved.

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CONTACT: Aspen Technology, Inc. Tony Mays 781-221-4390 tony.mays@aspentech.com