December 5, 2017
Aspen Technology, Inc. (NASDAQ: AZPN), the asset optimization software company, announced it has acquired the Cipher Industrial Internet of Things (IIoT) cloud-native software and edge connectivity assets of RtTech Software Inc. of New Brunswick, Canada.
The acquisition strengthens AspenTech’s asset optimization strategy by providing sophisticated cloud and edge processing technology that captures and aggregates critical data from assets throughout the plant and across the enterprise. This holistic view of every plant’s connected assets will extend the modeling and machine learning abilities of aspenONE® software to continually deliver accurate and actionable insights that optimize asset, plant and enterprise performance throughout the entire lifecycle.
RtTech’s Cipher software delivers on the IIoT promise of affordable, high performance connectivity for old, new, local and remote assets, without having to rip out and replace existing IT/OT (information technology/operational technology) infrastructures or business systems.
With Cipher, customers can eliminate the challenge of having to build and maintain their own IIoT infrastructure to connect their assets to the enterprise. Using the latest IIoT technology, Cipher works with almost any commercially available edge device. It supports a wide range of industry-standard communication and security protocols, enabling thousands of remote and local assets and devices (wired or wireless) to be connected to Cipher’s cloud-based data store for advanced analytics and asset optimization across the enterprise.
Cipher is a cloud-native application with multitenant capabilities leveraging a modern architecture design, based on Microsoft’s Azure Internet of Things platform. Key current components include:
In addition, the founder of RtTech, Keith Flynn, along with other key technology and sales contributors will join AspenTech. These employees will bring significant expertise in areas of edge and cloud computing, as well as in the waste water, manufacturing and pulp & paper industries, complementing AspenTech’s strategy to expand in asset-intensive environments outside of the process industries.
Financial terms of the transaction were not disclosed.
Antonio Pietri, President & CEO, AspenTech
“The acquisition of RtTech Software technology delivers another essential piece in support of our asset optimization strategy. RtTech provides best-in-class cloud-based software and IIoT connectivity, delivering capabilities that allow for data cleansing and local analytics at the edge. Combining RtTech’s capabilities with AspenTech APM software will offer our customers comprehensive solutions for Industrial IoT, Analytics and Machine Learning, with both on-premise and cloud-based deployment options.”
Keith Flynn, Founder, President and CEO, RtTech Software Inc.
“We look forward to being a key part of AspenTech’s Asset Optimization strategy, leveraging our best-in-class Industrial IoT and cloud-based technologies. AspenTech will also provide us with the go-to-market capabilities to bring Cipher to a broader range of customers.”