- Aspen Technology
Aspen Technology, Inc. is a provider of software and services for the
process industries . Headquartered inBurlington, Massachusetts , USA, Aspentech has 34 offices in 27 countries, spanning 6 continents.History
Founded in 1981, Aspentech was born out a joint research project between the
Massachusetts Institute of Technology (MIT) andUS Department of Energy – an Advanced System for Process Engineering (ASPEN) Project. [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]On July 15 2004 AspenTech was required by the Federal Trade Commission to make divestitures in regard to an anti-trust ruling against it's acquisition of HyproTech. This included divestment of batch and continuous simulation systems and integrated engineering software business (AXSYS). [FTC ruling on Hyprotech acquistion antitrust case http://www.ftc.gov/opa/2004/07/aspen.shtm]
Aspen Technology was delisted from the NASDAQ on February 19, 2008 for failing to meet financial transparency guidelines of the NASDAQ exchange. [Aspen Technology Notice of Delisting http://sec.gov/Archives/edgar/data/929940/000110465908026947/a08-12371_18k.htm ] Aspen Technology is currently traded on the Pink Sheets Exchange as a company with "Limited Information" available.
Corporate Turnaround
Over the past few years, under the leadership of Mark Fusco, AspenTech has attempted a corporate turnaround strategy. [cite web
author = AMR Research
title = Aspentech's Revamp and the Petroleum and Chemical Industries
date= 2008-01-04
url = http://www.aspentech.com/publication_files/AMR_Research_AspenTech_Revamps_20080108.pdf
format = PDF
accessdate = 2008-04-14 ]* Consolidating facilities with regional head offices in The America's, EMEA and Asia Pacific.
* Three R&D facilities globally - Process Modeling based in Burlington,Massachusetts ; Manufacturing and Supply Chain Center of Excellence inHouston ,Texas ; Quality Assurance Center inShanghai ,China References
External links
* [http://www.aspentech.com Official website]
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