Aspen Technology Overview
Company Headquarters: US
Founded: 1981
Workforce: ~5000
Company Working: Aspen Technology is a provider of software services for the manufacturing and process engineering sectors. It serves various industries such as chemical, pharmaceutical, polymer, consumer packaged goods, power, engineering, procurement and construction, transportation, metal & mining, pulp & paper, and waste-water management. The company operates through two segments, subscription & software, and services & other. The company’s asset performance management software falls under subscription & software segment. The asset performance management products offered are Aspen Mtell, Aspen Fidelis Reliability, Aspen ProMV, Aspen Column Analytics, Aspen Root Cause Analytics, Aspen Cloud Connect, and Aspen Edge Connect. Aspen Technology operates in the Americas, Canada, Europe, Asia-Pacific, and the Middle East.
Strategy
Aspen Technology follows both organic and inorganic growth approaches. Under these, it focuses on research and development to innovate products and enter the untapped markets and geographies. The company also tries to build strategic partnerships with companies such as Hexagon PPM and China National Bluestar (Group) Co. Ltd to grow its product portfolio and increase its customer base to establish a strong position in the market.
