AspenTech Acquires Industrial Internet of Things Cloud-based Software and Edge Connectivity Assets of RtTech Software Inc.
December 05 2017 - 4:49PM
Business Wire
IIoT Cloud and Edge Technology Will Expand
AspenTech APM Solutions;
Represents Another Step in the Execution of
Company’s Asset Optimization Strategy
Aspen Technology, Inc. (NASDAQ: AZPN), the asset optimization
software company, announced it has acquired the Cipher Industrial
Internet of Things (IIoT) cloud-native software and edge
connectivity assets of RtTech Software Inc. of New Brunswick,
Canada.
The acquisition strengthens AspenTech’s asset optimization
strategy by providing sophisticated cloud and edge processing
technology that captures and aggregates critical data from assets
throughout the plant and across the enterprise. This holistic view
of every plant’s connected assets will extend the modeling and
machine learning abilities of aspenONE® software to continually
deliver accurate and actionable insights that optimize asset, plant
and enterprise performance throughout the entire lifecycle.
RtTech’s Cipher software delivers on the IIoT promise of
affordable, high performance connectivity for old, new, local and
remote assets, without having to rip out and replace existing IT/OT
(information technology/operational technology) infrastructures or
business systems.
With Cipher, customers can eliminate the challenge of having to
build and maintain their own IIoT infrastructure to connect their
assets to the enterprise. Using the latest IIoT technology, Cipher
works with almost any commercially available edge device. It
supports a wide range of industry-standard communication and
security protocols, enabling thousands of remote and local assets
and devices (wired or wireless) to be connected to Cipher’s
cloud-based data store for advanced analytics and asset
optimization across the enterprise.
Cipher is a cloud-native application with multitenant
capabilities leveraging a modern architecture design, based on
Microsoft’s Azure Internet of Things platform. Key current
components include:
- Cipher
Portal: Used on-premise and in the Cloud to create a rich,
aggregated data store of asset information for advanced analytics
and asset optimization.
- Cipher
Connect: Used “at the edge” to collect, cleanse and analyze
data from sensors and other data sources. Cipher Connect supports a
wide range of communication protocols including MQTT, OPC UA, OPC
DA, Modbus, BACnet, Ethernet IP, Allen Bradley and MT Connect for
connecting almost any asset or device. Data collected by Cipher
Connect can be written to a Cipher Portal on-premise or in a public
or private cloud for advanced analysis and asset optimization. Data
can also be written to enterprise systems such as historians, APM,
EAM (enterprise asset management) and ERP (enterprise resource
planning) for use in business analysis and applications.
In addition, the founder of RtTech, Keith Flynn, along with
other key technology and sales contributors will join AspenTech.
These employees will bring significant expertise in areas of edge
and cloud computing, as well as in the waste water, manufacturing
and pulp & paper industries, complementing AspenTech’s strategy
to expand in asset-intensive environments outside of the process
industries.
Financial terms of the transaction were not disclosed.
Supporting Quotes
Antonio Pietri, President & CEO, AspenTech“The acquisition
of RtTech Software technology delivers another essential piece in
support of our asset optimization strategy. RtTech provides
best-in-class cloud-based software and IIoT connectivity,
delivering capabilities that allow for data cleansing and local
analytics at the edge. Combining RtTech’s capabilities with
AspenTech APM software will offer our customers comprehensive
solutions for Industrial IoT, Analytics and Machine Learning, with
both on-premise and cloud-based deployment options.”
Keith Flynn, Founder, President and CEO, RtTech Software Inc.“We
look forward to being a key part of AspenTech’s Asset Optimization
strategy, leveraging our best-in-class Industrial IoT and
cloud-based technologies. AspenTech will also provide us with the
go-to-market capabilities to bring Cipher to a broader range of
customers.”
Supporting Resources
- RtTech Software website
- aspenONE APM solutions
- AspenTech YouTube channel
About AspenTechAspenTech is a leading software supplier
for optimizing asset performance. Our products thrive in complex,
industrial environments where it is critical to optimize the asset
design, operation and maintenance lifecycle. AspenTech uniquely
combines decades of process modeling expertise with big data
machine-learning. Our purpose-built software platform automates
knowledge work and builds sustainable competitive advantage by
delivering high returns over the entire asset lifecycle. As a
result, companies in capital-intensive industries can maximize
uptime and push the limits of performance, running their assets
faster, safer, longer and greener. Visit AspenTech.com to find out
more.
© 2017 Aspen Technology, Inc. AspenTech, aspenONE, the Aspen
leaf logo, Aspen Basic Engineering, Aspen Fidelis Reliability,
Aspen Mtell, Aspen Unified PIMS and OPTIMIZE are trademarks of
Aspen Technology, Inc. All rights reserved. All other trademarks
are property of their respective owners.
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version on businesswire.com: http://www.businesswire.com/news/home/20171205006399/en/
AspenTechDavid Grip, +1
781-221-5273david.grip@aspentech.comorICRBrian Denyeau, +1
646-277-1251brian.denyeau@icrinc.com
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