AspenTech Acquires Fidelis Group, LLC
June 06 2016 - 8:30AM
Business Wire
Leading Provider of Asset Reliability Software
to Predict Asset Performance and Mitigate Risk in Process
Plants
Aspen Technology, Inc. (NASDAQ:AZPN), a leading provider of
software and services to the process industries, announced it has
acquired Fidelis Group, LLC of Lake Jackson, Texas. Fidelis is a
leading provider of asset reliability software that process
industry companies use to predict and optimize asset performance.
Customers use the software to mitigate risk and achieve significant
capital expense savings and increased availability.
Many owner-operators mandate risk analysis for all large capital
projects, typically those above five million dollars in capital
spending. Asset reliability analysis is performed in these
projects, to assess expected plant availability and mitigate risks
that could disrupt plant production.
Fidelis Group offers two asset reliability software products,
Fidelis Titan 2 and Fidelis WST:
- Owner-operators in chemicals, upstream,
refining and power use Fidelis Titan 2 as a discrete event
simulation tool for asset reliability modeling, to optimize
designs, debottleneck existing assets and increase availability.
Engineering & Construction companies also use Titan 2 to
evaluate process reliability and availability required to meet
their design guarantees. Customers using Titan 2 can achieve
capital expense savings by optimizing redundancy systems and
intermediate storage, while ensuring high plant availability.
- Fidelis WST is a Warehouse Spare Part
Sufficiency Tool that optimizes parts stocking strategies to ensure
high availability, while reducing spare part inventory costs that
can represent tens of millions of dollars in capital expense.
The aspenONE® suite provides market leading process engineering,
manufacturing, and supply chain optimization capabilities. The
addition of Fidelis Group asset reliability capabilities will
eventually enable AspenTech to offer the process industry’s first
process optimization software that includes reliability modeling --
for more reliable designs, higher plant availability, reduced CAPEX
and improved plant operations throughout the asset lifecycle.
The acquisition supports AspenTech’s increased focus on asset
optimization, by enabling customers to optimize the design,
operation and maintenance of their assets throughout the asset
lifecycle.
Terms of the transaction were not disclosed.
Supporting Quotes
Antonio Pietri, President & CEO, AspenTech“The aspenONE
suite is the most comprehensive, integrated and easy-to-use
environment for process optimization. Adding Fidelis Group’s
leading technology will enable AspenTech to provide asset
reliability capabilities that are critical for effective risk
mitigation in process plants. Asset reliability is also an
essential piece of a holistic approach to asset optimization. We
will continue to work with our customers to maximize the highest
possible financial return over the lifetime of their process
industry assets.”
Supporting Resources
- aspenONE Engineering, Manufacturing and
Supply Chain solutions
- AspenTech YouTube channel – aspenONE
product videos
About AspenTech
AspenTech is a leading supplier of software that optimizes
process manufacturing – for energy, chemicals, pharmaceuticals,
engineering and construction, and other industries that manufacture
and produce products from a chemical process. With integrated
aspenONE solutions, process manufacturers can implement best
practices for optimizing their engineering, manufacturing and
supply chain operations. As a result, AspenTech customers are
better able to increase capacity, improve margins, reduce costs and
become more energy efficient. To see how the world’s leading
process manufacturers rely on AspenTech to achieve their
operational excellence goals, visit www.aspentech.com.
NOTE: Aspen Technology may provide information regarding
possible future product developments including new products,
product features, product interfaces, integration, design,
architecture, etc. that may be perceived to represent “product
roadmaps.” Any such information is for discussion purposes only and
does not constitute a commitment by Aspen Technology to do or
deliver anything in these product roadmaps or otherwise. Any such
commitment must be explicitly set forth in a written contract
between the customer and Aspen Technology, executed by an
authorized officer of each company.
© 2016 Aspen Technology, Inc. AspenTech, aspenONE and the Aspen
leaf logo are trademarks of Aspen Technology, Inc. All rights
reserved. All other trademarks are property of their respective
owners.
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MediaAspenTechDavid Grip, +1
781-221-5273david.grip@aspentech.comorInvestorsICRBrian
Denyeau, +1 646-277-1251brian.denyeau@icrinc.com
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