Aspen Technology Acquires Mnubo and Sabisu to Deliver Scalable AI-Driven Solutions for the Smart Enterprise
July 12 2019 - 7:30AM
Business Wire
Acquisitions Enable Both the Deployment of
AI-powered Applications and Visualization of Information and
Analytics at Enterprise Scale
Aspen Technology, Inc. (NASDAQ: AZPN), a global leader in asset
optimization software, has signed an agreement to acquire Mnubo
Inc., a Montreal-based provider of purpose-built artificial
intelligence (AI) and analytics infrastructure for the internet of
things (IoT). Mnubo enables industrial companies to assemble and
deploy AI-driven IoT applications quickly, at enterprise scale. The
Mnubo technology will accelerate the realization of AspenTech’s
vision for the next generation of asset optimization solutions that
combine deep process expertise with AI and machine learning. The
acquisition is expected to close within the next five business
days.
In addition to deploying AI-powered applications, the ability to
visualize vast quantities of information and analyzed data is
critical to the evolution of the smart enterprise. To further
enhance these capabilities AspenTech has acquired Sabisu Ltd., a
UK-based company that provides a flexible enterprise visualization
and workflow solution to deliver real-time decision support.
AspenTech acquired Sabisu in June 2019.
These acquisitions will enable AspenTech to accelerate the
distribution of embedded AI in both its existing and future
solutions. By combining first principle engineering models and deep
process expertise with AI capabilities, these solutions will enable
the automation of knowledge and data-driven decision-making for
continuous improvement across the design, operation and maintenance
lifecycle of industrial assets.
“With the current pressures on margins, our customers need to
yield higher outputs and drive higher efficiencies with existing
assets. When expertly applied, AI offers a significant competitive
advantage in managing operations to the limits of performance
without compromising safety. By bringing the deep domain expertise
of AspenTech together with Mnubo AI-driven IoT expertise and Sabisu
visualization, we can deliver innovation that helps our customers
drive greater value from their existing data at scale. The
actionable insights from AI-powered applications will help
AspenTech customers to achieve a truly smart enterprise. I am
delighted to welcome the highly talented teams from both Mnubo and
Sabisu to AspenTech,” commented Antonio Pietri, president and CEO
of Aspen Technology.
“The global adoption of AI and IoT technologies is powering the
next wave of industrial-digital enterprises. The Mnubo AI and
analytics infrastructure was purpose-built to accelerate the
digital transformation of traditional industries by democratizing
the power of artificial intelligence and machine learning. Our
location in Montreal’s world-class AI ecosystem enables AspenTech
to establish a Centre of Excellence for these cutting-edge
technologies, and to attract some of the best talent in this space.
We are very excited to continue to develop innovative AI solutions
that target the industrial internet of things at enterprise scale,
under the AspenTech umbrella,” said Frédéric Bastien, co-founder
and CEO of Mnubo.
“Sabisu can aggregate performance data from multiple sources,
from historians to spreadsheets, from across the plant, country or
world. When made available to engineering, operations, planning and
maintenance teams, the comprehensive analysis can be used to
significantly enhance uptime and efficiency. We are excited to join
AspenTech and develop our technology to achieve actionable data
insights that have been previously unobtainable,” said Tim Sharpe,
co-founder and managing director of Sabisu.
The purchase price of the Mnubo transaction is agreed at CAD102
million. Financial details for the Sabisu acquisition, which
includes Argent & Waugh Ltd., are not disclosed.
About Aspen Technology Aspen Technology (AspenTech) is a
leading software supplier for optimizing asset performance. Its
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 machine learning. The company's 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 safer, greener, longer and faster. Visit
AspenTech.com to find out more.
© AspenTech, aspenONE, the Aspen leaf logo, Aspen, Aspen Mtell
and Sabisu are trademarks of Aspen Technology, Inc. or its
affiliates. All rights reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20190712005076/en/
Tony Mays Global PR Director, Aspen Technology +1.781.221.4390
Tony.Mays@aspentech.com
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