Emerson to acquire remaining shares of AspenTech for $7.2bn
Summary
In 2022, Emerson paid about $6bn to complete the acquisition of 55% of the software supplier, which was then valued at around $11bn, reported Reuters. The acquisition deal underscores Emersons evolution from its 1890 roots as a motor and fan manufacturer in St. Louis, to an industrial technology company in the US that is focused on factory floor automation, reported the media outlet. "This agreement is a testament to the dedication of AspenTechs employees, who have executed on our partnership and transformed the business to position it for future success." Goldman Sachs and Centerview Partners are serving as financial advisors to Emerson, with Davis Polk & Wardwell as legal counsel. Joele Frank, Wilkinson Brimmer Katcher is serving as Emersons communications advisor.