Aspen Technology Receives Acquisition Proposal from Emerson

Shareholders Advised to Take No Action Following Review

BEDFORD, Mass.--(BUSINESS WIRE)--Aspen Technology, Inc. (NASDAQ:AZPN), known as AspenTech, a global leader in industrial software, recently announced that its Board of Directors has received an unsolicited, non-binding acquisition proposal from Emerson Electric Co. (NYSE: EMR) as of November 5, 2024. The proposal suggests acquiring all outstanding shares of AspenTech's common stock for $240.00 per share in cash, a price that reflects Emerson's intent to gain full control of the company.

As of their latest filing, Emerson currently owns 57.4% of AspenTech's outstanding shares, highlighted in their Schedule 13D filing on the same date as the proposal.

In response to this development, AspenTech's Board has stated it will conduct a thorough governance process to review the proposal. It is important to note that no immediate action is required from AspenTech's shareholders at this time.

About Aspen Technology
Aspen Technology, Inc. (NASDAQ: AZPN) specializes in providing global software solutions that assist industries in addressing the increasing demand for resources while promoting sustainable practices. AspenTech's software is designed to optimize the lifecycle of asset design and operations, allowing customers to achieve superior operational excellence. The company focuses on sectors where it is crucial to enhance asset efficiency and reliability.

Additional Information
Currently, there has been no formal tender offer initiated for shares of the company. This communication serves solely informational purposes and does not constitute an invitation to purchase or encourage selling shares. If Emerson goes forward with a tender offer, necessary documentation and further details will be submitted to the U.S. Securities and Exchange Commission (SEC) that will be relevant to the offer process.

In the event Emerson commences a tender offer for the shares not owned by them, they would file a Tender Offer Statement, while AspenTech would respond with a Recommendation Statement to advise shareholders accordingly. Stakeholders are encouraged to review these documents as they will contain essential information related to the offer.

Forward-Looking Statements
This announcement includes forward-looking statements related to the potential acquisition by Emerson of AspenTech's remaining shares. Such statements carry risks and uncertainties that could lead to actual outcomes differing from those anticipated. Potential risks include uncertainties surrounding the tender offer timeline, the likelihood of a deal being reached, the chance of competing bids, and the effect of the acquisition on business operations and relationships.

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acquisition, proposal, AspenTech