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.
Supporting Quote
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.”
About AspenTech
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.
© 2016 Aspen Technology, Inc. AspenTech, aspenONE and the Aspen leaf logo are registered trademarks of Aspen Technology, Inc. All rights reserved. All other trademarks are property of their respective owners.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160217006625/en/
Contacts:
AspenTech
David Grip, +1-781-221-5273
david.grip@aspentech.com
or
Investor
Contact
ICR
Brian Denyeau, +1-646-277-1251
brian.denyeau@icrinc.com