Emerson’s (NYSE: EMR) majority owned subsidiary, AspenTech (NASDAQ: AZPN), today announced it has entered into an agreement to acquire Micromine, an end-to-end mining software provider. This acquisition will build on AspenTech’s leading software portfolio, furthering its diversification strategy into the metals and mining market and facilitating the digital transformation and sustainability goals of the industry.
The transaction with AspenTech, which closed in May 2022, accelerates Emerson’s software strategy and demonstrates commitment to build a higher growth, more diversified and cohesive portfolio. This proposed acquisition of Micromine is an example of how Emerson and AspenTech will drive growth through continued investment and M&A.
Micromine, headquartered in Perth, Australia, offers solutions relevant to every step of the mining process from exploration, evaluation, design and planning through production and optimization. Micromine’s solutions are used at over 2,000 sites across all major mining regions.
Following AspenTech’s completion of the proposed acquisition, Emerson will continue to be a 55% shareholder in AspenTech.
Emerson, headquartered in St. Louis, is a global technology and software company providing innovative solutions for customers in industrial, commercial and residential markets. For its part, Aspen is a global software leader helping industries at the forefront of the world’s dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner.
AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle.
EMR shares climbed 54 cents to $84.58 early Wednesday, while those for AZPN sprinted $3.59, or 2%, to $184.57.
