Emerson set to merge software units with AspenTech
According to a report in the Wall Street Journal Emerson, the industrial automation systems manufacturer, is set to merge its software businesses with Aspen Technology in a deal worth in excess of $11bn.
The planned merger would see Emerson take a 55 per cent stake in the combined company, which would retain the Aspen Technology name and be LED by its current Chief Executive Officer Antonio Pietri.
Emerson is valued at over $57bn and develops power plants and factories across a number of sectors. AspenTech develops software for operating in mining, chemical, manufacturing and pharmaceuticals.