Honeywell to acquire business, technology from Aspen

Honeywell has announced a definitive agreement to acquire the intellectual property of the Hysys modeling software and the Operator Training Simulation (OTS) business from Aspen Technology Inc.


Phoenix, AZHoneywell has announced a definitive agreement to acquire the intellectual property of the Hysys modeling software and the Operator Training Simulation (OTS) business from Aspen Technology Inc . The move is expected to extend the capabilities of Honeywell's Experion Process Knowledge System (PKS) by enhancing its ability to gather data throughout the plant and coupling it with domain knowledge embedded in Hysys models and advanced solutions. The combined solution will place information in front of decision-makers in an actionable format.

The addition, Honeywell says, helps customers turn data into knowledge with:

  • Better process performance that helps the plant process achieve the maximum output/yield;

  • Better asset effectiveness by deciding when/where/how to operate, maintain, or repair equipment;

  • Better business decision-making when choosing which orders to take, which plant to use, when to deliver, and at what price; and

  • Better operator effectiveness through training on startup, shutdown, upsets, and abnormal circumstances.

'Today's process operations are increasingly complex,” said Jack Bolick, president of Honeywell Process Solutions. “Operators not only manage profitability, they also work to comply with regulations and product quality constraints. Powerful, integrated, automation-based solutions and a well-trained staff are an essential requirement. This acquisition not only allows us obtain great new additions to our product portfolio, but we gain an incredible amount of process knowledge and experience from the new employees joining Honeywell, and we are committed to ensuring a seamless transition of in-progress customer projects.'

The acquisition helps Honeywell provide a comprehensive suite of advanced solutions for its customer base. It will also be able to further enhance its Shadow Plant simulation offerings by merging capabilities offered by the Aspen OTS and Hyprotech technologies, and leveraging customers' own intellectual property embedded in existing Hysys models.

The acquisition is expected to close within the next 30 to 90 days, pending Federal Trade Commission approval. According to transaction terms, Honeywell will pay AspenTech $6 million cash and assume $4 million of accounts receivable from AspenTech. Additional terms include:

1. Retention of a license to the Hyprotech products by AspenTech that provides for the continuation of its rights to market, sell, and develop Hyprotech products;

2. Three-year agreement not to compete in operator training services by AspenTech; and

3. Two-year support agreement under which AspenTech will provide Honeywell with source code to new releases of the Hyprotech products transferred.

—Jeanine Katzel, senior editor, Control Engineering,

No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Controller programming; Safety networks; Enclosure design; Power quality; Safety integrity levels; Increasing process efficiency
Additive manufacturing benefits; HMI and sensor tips; System integrator advice; Innovations from the industry
Robotic safety, collaboration, standards; DCS migration tips; IT/OT convergence; 2017 Control Engineering Salary and Career Survey
Featured articles highlight technologies that enable the Industrial Internet of Things, IIoT-related products and strategies to get data more easily to the user.
This article collection contains several articles on how automation and controls are helping human-machine interface (HMI) hardware and software advance.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Infrastructure for natural gas expansion; Artificial lift methods; Disruptive technology and fugitive gas emissions
Mobility as the means to offshore innovation; Preventing another Deepwater Horizon; ROVs as subsea robots; SCADA and the radio spectrum
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me