ST.
LOUIS, March 12, 2025 /PRNewswire/ -- Emerson
(NYSE: EMR) today announced that it has completed its acquisition
of all outstanding shares of common stock of Aspen Technology, Inc.
("AspenTech") not already owned by Emerson.
"The completion of our acquisition of AspenTech marks a key
milestone in the final phase of Emerson's portfolio
transformation," said Emerson
President and Chief Executive Officer Lal Karsanbhai. "I
want to thank Antonio for his leadership of AspenTech and
partnership with Emerson over the years. We look forward to
welcoming the talented AspenTech team to Emerson and continuing to
drive shareholder value as we enhance our offering."
With the completion of the acquisition, AspenTech is now a
wholly owned subsidiary of Emerson.
Antonio Pietri will retire from
his role as CEO of AspenTech. Vincent M.
Servello has been appointed to lead the AspenTech business
unit as President. Mr. Servello joined Emerson in 2014 and has
served in a variety of leadership roles with increasing
responsibility, most recently as Vice President, Strategy &
Corporate Development for the enterprise since 2021. He brings deep
expertise in industrial technology, operational execution and
corporate strategy to AspenTech. David
Baker, who served as Chief Financial Officer of AspenTech
prior to the completion of the transaction, will continue to serve
as business unit CFO.
As an independent business unit, AspenTech's results will be
consolidated into the Control Systems & Software segment, which
is led by Sabee Mitra, Business Group President of Control Systems
& Software.
Successful Completion of Tender Offer and Merger
Prior to the completion of the transaction, Emerson's tender
offer for all outstanding shares of common stock of AspenTech not
already owned by Emerson for $265.00
per share in cash expired on March 11,
2025, at 5:00 p.m. Eastern
Time. Based on the final count by Equiniti Trust Company,
LLC, the Depository Agent for the tender offer, an aggregate of
19,479,909 shares were validly tendered and not validly withdrawn
(including 1,859,751 shares tendered by way of guaranteed
delivery), representing approximately 72% of the outstanding shares
of AspenTech common stock not already owned by Emerson and its
subsidiaries, Emerson's and its subsidiaries' directors and
officers, and AspenTech's directors and officers.
Following completion of the tender offer, Emerson completed the
acquisition of the remaining outstanding shares of common stock of
AspenTech on March 12, 2025 through a
merger.
AspenTech shareholders who have not already tendered their
shares are entitled to receive $265.00 per share in cash for each share of
AspenTech common stock owned.
AspenTech's shares of common stock have ceased trading on the
NASDAQ.
Advisors
Goldman Sachs & Co. LLC and Centerview Partners LLC served
as financial advisors to Emerson, and Davis
Polk & Wardwell LLP served as legal advisor.
Joele Frank, Wilkinson Brimmer
Katcher served as strategic communications advisor to Emerson.
About Emerson
Emerson (NYSE: EMR) is a global industrial technology leader
that provides advanced automation. With an unmatched portfolio of
intelligent devices, control systems, and industrial software,
Emerson delivers solutions that automate and optimize business
performance. Headquartered in Saint
Louis, Missouri, Emerson combines innovative technology with
proven operational excellence to power the future of automation.
For more information, visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly
historical may be "forward-looking" statements, which involve risks
and uncertainties, and Emerson undertakes no obligation to update
any such statements to reflect later developments. These risks and
uncertainties include the scope, duration and ultimate impacts of
the Russia-Ukraine and other global conflicts, as well as
economic and currency conditions, market demand, pricing,
protection of intellectual property, cybersecurity, tariffs,
competitive and technological factors, inflation, among others, as
set forth in the Company's most recent Annual Report on Form 10-K
and subsequent reports filed with the SEC. The outlook contained
herein represents the Company's expectation for its consolidated
results, other than as noted herein.
Emerson uses our Investor Relations website,
www.Emerson.com/investors, as a means of disclosing information
which may be of interest or material to our investors and for
complying with disclosure obligations under Regulation FD.
Accordingly, investors should monitor our Investor Relations
website, in addition to following our press releases, SEC filings,
public conference calls, webcasts and social media. The information
contained on, or that may be accessed through, our website is not
incorporated by reference into, and is not a part of, this
document.
Contacts 
Investors
Colleen Mettler
314-553-2197
Media 
Joseph Sala / Greg Klassen / Connor Murphy
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
View original content to download
multimedia:https://www.prnewswire.com/news-releases/emerson-completes-acquisition-of-remaining-outstanding-shares-of-aspentech-302399867.html
SOURCE Emerson
