February 17, 2016
Aspen Technology, Inc. (“AspenTech”) announced today that it does not intend to revise its offer of 185 pence for each share of KBC Advanced Technologies plc (“KBC”) which was announced on January 12, 2016.
Earlier today, KBC issued an announcement stating it has agreed to accept an acquisition offer of 210 pence per share from Yokogawa Electric Corporation.
Antonio Pietri, President & CEO, AspenTech
“While we had looked forward to the combination of AspenTech and KBC, we
believe our proposed purchase price of 185p represented full and fair value. As with every aspect of our business,
AspenTech takes a disciplined approach when assessing potential acquisitions.”
AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, engineering and construction, and other industries that manufacture and produce products from a chemical process. With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering, manufacturing and supply chain operations. As a result, AspenTech customers are better able to increase capacity, improve margins, reduce costs and become more energy efficient. To see how the world’s leading process manufacturers rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com.