Aspen Technology, Inc. is a provider of software and services for the process industries. Headquartered in Burlington, Massachusetts

Burlington, Massachusetts

Burlington is a town in Middlesex County, Massachusetts, United States. The population was 24,498 at the 2010 census.- History :It is believed that Burlington takes its name from the English town of Bridlington, however this has never been confirmed....

, USA, Aspentech has 34 offices in 27 countries, spanning 6 continents.

History

Founded in 1981, Aspentech was born out a joint research project between the Massachusetts Institute of Technology

Massachusetts Institute of Technology

The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...

 (MIT) and US Department of Energy—an Advanced System for Process Engineering (ASPEN) Project.

On July 15, 2004, AspenTech was required by the Federal Trade Commission to make divestitures in regard to an anti-trust ruling against its acquisition of HyproTech. This included divestment of batch and continuous simulation systems and integrated engineering software business (AXSYS).

Aspen Technology was delisted from the NASDAQ on February 19, 2008 for failing to meet financial transparency guidelines of the NASDAQ exchange. It has since been relisted.http://boston.bizjournals.com/boston/stories/2010/02/08/daily24.html?ana=yfcpc

Corporate Turnaround

Over the past few years, under the leadership of Mark Fusco

Mark Fusco

Mark Edward Fusco is a retired professional ice hockey player who appeared in 80 NHL regular season games for the Hartford Whalers in 1984–85. As an amateur, Fusco won the Hobey Baker Award in 1983 while playing for the Harvard University men's ice hockey team...

, AspenTech has attempted a corporate turnaround strategy.

• Consolidating facilities with regional head offices in The America's, EMEA and Asia Pacific.
• Reducing the R&D facilities from 19 to 3 globally - Process Modeling based in Burlington
  Burlington, Massachusetts
  Burlington is a town in Middlesex County, Massachusetts, United States. The population was 24,498 at the 2010 census.- History :It is believed that Burlington takes its name from the English town of Bridlington, however this has never been confirmed....
  
  , Massachusetts
  Massachusetts
  The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
  
  ; Manufacturing and Supply Chain Center of Excellence in Houston, Texas
  Texas
  Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
  
  ; Quality Assurance Center in Shanghai
  Shanghai
  Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
  
  , China
  China
  Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
  
  
• Reorganizing the professional services business unit - new organization structure and management, and streamlining operations.

External links

• Official website
• http://www.jimpinto.com/commentary/aspentech.html (2004)