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Tuesday, 17 March 2015, 14:30 HKT/SGT

Source: AspenTech
AspenTech Acquires BLOWDOWN
Leading Depressurization Technology Supports Critical Activity of Plant Safety for Oil & Gas and Chemical Companies

SINGAPORE, Mar 17, 2015 - (ACN Newswire) - Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, announced it has acquired the BLOWDOWN software technology from Professor Stephen Richardson of Imperial College London and Dr. Graham Saville, formerly of Imperial College London.
AspenTech Acquires BLOWDOWN

BLOWDOWN has been used in hundreds of studies in oil and gas and chemical companies to model depressurization in process plants. Improving safety through the modeling and analysis of depressurization systems is a critical activity in the design and operation of every process plant.

Depressurization or "blowdown" protects key process equipment by relieving fluids from the equipment in a controlled manner. BLOWDOWN identifies locations in a system where temperatures can decline dramatically during depressurization. These low temperatures can lead to a drop in the temperature of the walls of the process vessels below the transition temperature of the steel from which the vessel or line is made.

The aspenONE(R) Engineering suite provides market leading process plant modeling and optimization capabilities. BLOWDOWN provides additional capabilities that will eventually enable AspenTech to provide a complete depressurization system optimization capability. This will result in increased engineering efficiency, reduced capital spend and increased safety and reliability for AspenTech customers.

Antonio Pietri, President & CEO, AspenTech said, "aspenONE Engineering is the most comprehensive, integrated and easy-to-use environment for process engineering. The addition of BLOWDOWN will give our customers the ability to model depressurization scenarios, which is a critical activity in the design and operation of every process plant. Combining the strengths of BLOWDOWN with aspenONE's capabilities to design and analyze overpressure protection systems makes it possible to generate inherently safer and more efficient designs."

Aspen Technology, Inc.
Georgina Tan
+65 6395 3913

Topic: Merger & Acquisition
Source: AspenTech

Sectors: Gas & Oil, Design Process, Daily Finance, Engineering, Cloud & Enterprise, Chemicals, Spec.Chem, Energy, Alternatives
From the Asia Corporate News Network

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