ST. LOUIS, March 12, 2025 – Emerson (NYSE: EMR) today announced the successful completion of 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 acquisition now finalized, AspenTech becomes a wholly owned subsidiary of Emerson. As part of the transition, Antonio Pietri is retiring from his role as CEO of AspenTech. Vincent M. Servello has been appointed to lead the AspenTech business unit as President. Servello joined Emerson in 2014 and has held various leadership roles, most recently serving as Vice President, Strategy & Corporate Development since 2021.
David Baker, who was Chief Financial Officer of AspenTech before the transaction’s completion, will continue in his role as business unit CFO. AspenTech’s results will be consolidated into Emerson’s Control Systems & Software segment, led by Sabee Mitra, Business Group President of Control Systems & Software.
Tender Offer and Merger Completion
Emerson’s tender offer for outstanding AspenTech shares at $265.00 per share in cash expired on March 11, 2025, at 5:00 p.m. Eastern Time. According to the final count by Equiniti Trust Company, LLC, the Depository Agent, 19,479,909 shares were validly tendered (including 1,859,751 shares tendered by way of guaranteed delivery). This represents approximately 72% of the outstanding shares of AspenTech common stock not already owned by Emerson and its subsidiaries, Emerson’s and AspenTech’s directors and officers.
Following the tender offer, Emerson completed the acquisition of the remaining outstanding shares on March 12, 2025, through a merger. AspenTech shareholders who did not tender their shares are entitled to receive $265.00 per share in cash for each share of AspenTech common stock owned. Subsequently, AspenTech’s shares of common stock have ceased trading on NASDAQ.
Goldman Sachs & Co. LLC and Centerview Partners LLC served as financial advisors to Emerson, while Davis Polk & Wardwell LLP served as legal advisor. Joele Frank, Wilkinson Brimmer Katcher provided strategic communications advice to Emerson.
About Emerson
Emerson (NYSE: EMR) is a global technology leader providing innovative automation solutions. The company offers a comprehensive portfolio of intelligent devices, control systems, and industrial software designed to automate and optimize business performance. Headquartered in Saint Louis, Missouri, Emerson leverages technology and operational excellence to drive 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.
Contact Information:
- Investors: Colleen Mettler, 314-553-2197
- Media: Joseph Sala / Greg Klassen / Connor Murphy, Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449
