Companies agree to digital technology alliance
Emerson (NYSE: EMR) and AspenTech (NASDAQ: AZPN) announced they have teamed up to deliver asset optimization software solutions along with global automation technologies and operational consulting services. Together, the two industry leaders will help customers optimize production and drive operational excellence. The news was announced at a press conference at the ARC Industry Forum in Orlando, Fla.
AspenTech’s suite of asset optimization software creates value across all phases of the asset lifecycle—design, operate and maintain—in capital intensive and complex projects and operations. Emerson’s global footprint, automation engineering services and software, extensive large-scale project execution and consulting capabilities complement AspenTech’s technology footprint. Collectively, these capabilities can be deployed as solutions in both conventional and cloud-based architectures.
"Emerson and AspenTech are both highly focused on digital technologies and services that deliver measurable improvements and value to our customers’ bottom line," said Dave Farr, chairman & CEO of Emerson.
The alliance will initially focus on three key areas: engineering software, including high-fidelity simulation to help validate project design and train operators before start-up; manufacturing and supply chain software, including advanced process control software designed for highly complex operations; and asset performance management software to improve plant reliability.
"Working with Emerson, we will help more organizations drive higher total shareholder returns with a relentless focus on operational excellence," says Antonio Pietri, president and CEO of AspenTech. "We look forward to helping make the best companies even better by optimizing the design, operation and maintenance lifecycle with software and insight to run assets faster, safer, longer and greener."
The two companies will provide holistic optimization strategies that rely on real-time data, advanced analytics enabled by machine learning, and rich process knowledge to bring measurable business improvements in production, as well as in the areas of reliability, safety and energy management.
– Edited from an Emerson and AspenTech press release by CFE Media. See more Control Engineering diagnostics and asset management stories.