Emerson in $11BN Merger with AspenTech
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Emerson Electric Co. confirmed plans to merge its industrial software businesses into Aspen Technology in a deal valued at $11 billion.
The Ferguson-based maker of industrial automation technology said it is paying $160 per share, including $6 billion in cash, to AspenTech shareholders in exchange for a 55% stake in the firm.
This will combine Emerson's Geological Simulation Software business and its OSI Inc. unit with Bedford, Massachusetts-based AspenTech.
While Emerson, founded in 1890, has long had an identity as a manufacturing giant, an ambitious acquisition strategy and diversification of its revenue portfolio has transformed the company into a software giant.
Check out the full story by Erik Siemers on the St. Louis Business Journal.