Emerson has completed its acquisition of all outstanding shares of common stock of Aspen Technology, (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 Servello has been appointed to lead the AspenTech business unit as President.

 

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. -TradeArabia News Service