Aspen Technology, Inc. is a provider of software and services for the process industries. Headquartered in Burlington, Massachusetts, USA, Aspentech has 34 offices in 27 countries, spanning 6 continents.

Contents 1 History 2 Corporate Turnaround 3 References 4 External links

[edit] History

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] Aspen Technology is currently traded on the Pink Sheets Exchange as a company with "Limited Information" available.

[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

[edit] External links

• Official website

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