Emerson in $11BN Merger with AspenTech

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.