Aspen Technology

In: Business and Management

Submitted By curiousdl76
Words 266
Pages 2
Founded in 1981, Aspentech was born out a joint research project between the Massachusetts Institute of Technology (MIT) and US Department of Energy—an Advanced System for Process Engineering (ASPEN) Project.[1] [2]

On July 15, 2004, AspenTech was required by the Federal Trade Commission to make divestitures in regard to an anti-trust ruling against its acquisition of HyproTech. This included divestment of batch and continuous simulation systems and integrated engineering software business (AXSYS). [3]

Aspen Technology was delisted from the NASDAQ on February 19, 2008 for failing to meet financial transparency guidelines of the NASDAQ exchange.[4] It has since been relisted.[1]
[edit] Corporate Turnaround

Over the past few years, under the leadership of Mark Fusco, AspenTech has attempted a corporate turnaround strategy.[5]

Consolidating facilities with regional head offices in The America's, EMEA and Asia Pacific. Reducing the R&D facilities from 19 to 3 globally - Process Modeling based in Burlington, Massachusetts; Manufacturing and Supply Chain Center of Excellence in Houston, Texas; Quality Assurance Center in Shanghai, China Reorganizing the professional services business unit - new organization structure and management, and streamlining operations.

[edit] References

^ Aspentech Corporate Overview http://www.aspentech.com/corporate/press/media_kit.cfm ^ Facts at a Glance http://www.aspentech.com/corporate/press/media_kit.cfm ^ FTC ruling on Hyprotech acquistion antitrust case http://www.ftc.gov/opa/2004/07/aspen.shtm ^ Aspen Technology Notice of Delisting http://sec.gov/Archives/edgar/data/929940/000110465908026947/a08-12371_18k.htm ^ AMR Research (2008-01-04). "Aspentech's Revamp and the Petroleum and Chemical Industries" (PDF). Retrieved 2008-04-14.

[edit] External…...

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