Bloomberg News reported on Wednesday that manufacturing giant Emerson Electric Co (EMR.N) is in talks to merge its software assets with industrial software company Aspen Technology Inc (AZPN.O), citing people familiar with the subject.
According to the article, Emerson is in talks with Aspen Tech to merge its software assets and assume majority control of the combined firm, with Aspen Tech keeping its own public listing.
Emerson and Aspen Tech did not immediately reply to requests for comment on their goods, which range from automation software to air conditioning gear.
Aspen had a market capitalization of $8.42 billion as of Wednesday’s close, while Emerson had a market capitalization of $57.17 billion. According to their website, Aspen, situated in Bedford, Massachusetts, has over 2,300 clients worldwide. It develops software for mining, chemical, manufacturing, pharmaceutical, and other businesses.
Emerson announced its $1.6 billion purchase of operations technology company Open Systems International more than a year ago, and the deal report came more than a year later.