The US Federal Trade Commission and Aspen Technologies have announced that a final settlement has been reached regarding the commission’s dispute with AspenTech’s 2002 acquisition of Hyprotech.
The final issue to be resolved was the FTC’s approval of a sale of simulation products and operator training products and services to Honeywell International. Previously, AspenTech agreed to sell of the AXSYS line of plant design software to Bentley Systems.
AspenTech is allowed to retain full rights to the technology and other assets it acquired from Hyprotech, with the exception of a three-year ban on providing operator training services. Going forward, AspenTech intends to heavily promote its new AspenONE technology,
In a letter to AspenTech customers, interim CEO chief financial officer Charles Kane wrote, “Our retention of the rights to develop, sell and support all our simulation products including the Aspen HYSYS product line means that your investments in our software are secure, and that our contractual commitments to you remain unchanged. We continue to remain focused on providing full lifecycle support from conceptual engineering, economic evaluation, and detailed design to plant operations through consistent use of models.”