AspenTech Acquires Mtell
Will Add Predictive and Prescriptive Maintenance Technology to aspenONE® Software; Extends Company’s Asset Optimization Offerings
Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and
services to the process industries, announced it has acquired Mtelligence
Corporation (known as Mtell), a San Diego, California-based pioneer in the
field of predictive and prescriptive maintenance for asset performance
Mtell products enable companies to increase asset
utilization and avoid unplanned downtime by accurately predicting when
equipment failures will occur, understanding why they will occur, and
prescribing what to do to avoid the failure.
The products provide a low-touch,
rapidly deployable, end-to-end solution that combines a deep understanding of
operations and maintenance processes, real-time and historical equipment data
and cutting-edge machine learning technologies.
As a result, customers can:
Monitor the health of equipment, detect early failure symptoms,
diagnose their root-cause and recommend the best responses to avoid the failure
Continually learn and automatically adapt to changing equipment and
Automatically share findings across a network of similar equipment to
improve the overall process performance.
of the world’s largest process manufacturing companies use Mtell software to detect
and avoid failures well in advance of an actual breakdown, optimizing the
performance of their assets. Customer
results have shown significant benefits including improved industrial safety,
removal of risk, reduced failures, enhanced productivity and increased
Mtell products include:
Previse – Mtell’s
flagship end-to-end machine learning solution that monitors equipment health
24/7, detects early indicators of degradation or failures, diagnoses the root
cause and prescribes responses that prevent breakdowns and unplanned downtime.
Basis – A
connected condition monitoring application that facilitates collaboration between
operations and maintenance organizations to determine the best course of action
for equipment alert conditions.
A high performance, scalable, big data repository that captures, manages and
synchronizes large volumes of time series, event and asset data from multiple
Summit – A
remote monitoring center application for monitoring, analyzing and benchmarking
The purchase price of the
transaction was $37M. Additional terms
are disclosed in AspenTech’s Quarterly Report on Form 10-Q for the first
quarter of Fiscal 2017 filed with the United States Securities and Exchange
Pietri, President & CEO, AspenTech
acquisition of Mtell delivers another essential piece in support of our asset
optimization strategy. The aspenONE®
suite is already the most comprehensive, integrated and easy-to-use environment
for optimizing the performance of process plants and assets. Adding Mtell will enable us to provide
predictive and prescriptive maintenance capabilities that further differentiate
our offerings, creating additional value for our customers and opening up new
Rahilly, Founder and CEO, Mtell
at Mtell is excited to join the AspenTech team.
Mtell shares AspenTech’s vision for creating breakthrough technology
that generates the highest possible return over the lifetime of industrial
assets. I am especially excited about
combining our expertise in machine learning and maintenance workflows with AspenTech’s
leading innovative technology and dedicated sales and customer success teams. We believe this will result in new and
exciting developments for Mtell customers as well as growth opportunities for
Mtell web site
aspenONE Engineering, Manufacturing and Supply Chain
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is a leading supplier of software that optimizes process manufacturing – for
energy, chemicals, 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.
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