Aspen Technology Announces Closure of FTC Investigation and Agreement to Modify Consent Decree
"We believe the claims made in this investigation were without
any merit and that the investigation was not justified, since
AspenTech at all times complied with both the letter and spirit of
the original consent decree," said Frederic G. Hammond, AspenTech
Senior Vice President and General Counsel. "We made a determination
to settle the investigation rather than continue to allocate time
and resources to issues that in our view were resolved in 2004.
Neither the modification to the consent decree nor the settlement
with Honeywell in any way affects our ability to develop and sell
our industry-leading engineering and optimization solutions."
Since the original 2004 consent decree, AspenTech has
strengthened its technology leadership through continued innovation
across the aspenONE® Engineering suite, including Aspen
HYSYS®. The recent aspenONE V7 release continues
AspenTech’s 28-year history of innovation by making it easier
for process industry companies to adopt engineering best practices.
aspenONE V7 is being used by more than 700 leading process industry
companies around the world.
Modification to Consent Decree
The modification to the 2004 consent decree requires that
AspenTech continue to provide the ability for users to save input
variable case data for Aspen HYSYS and Aspen HYSYS Dynamics
software in a standard "portable" format, which will make it easier
for users to transfer case data from later versions of the products
to earlier versions. AspenTech will also provide documentation to
Honeywell of the Aspen HYSYS and Aspen HYSYS Dynamics input
variables, as well as documentation of the covered heat exchange
products. These requirements will apply to all existing and future
versions of the covered products through 2014. In addition,
AspenTech will provide to Honeywell a license to modify and
distribute (in object code form) the current version of
AspenTech’s flare system analyzer.
Following a 30-day period for public comment on the modification
to the original decree, AspenTech expects that the new arrangement
will be made part of a final order.
AspenTech is a leading supplier of software that optimizes
process manufacturing – including oil and gas, petroleum,
chemicals, pharmaceuticals 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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