By Adriano Marchese
Emerson Electric has agreed to acquire the remaining stock of Aspen Technology valuing the software company's remaining stake at $7.2 billion.
Emerson, an automation technology giant, is set to acquire the remaining minority shares, representing about 43% of the company's stock at a price of $265.00 a share, the two companies said Monday.
Emerson currently owns about 57% of Aspen's stock after it made an investment in 2022 where it acquired a 55% majority position.
Aspen's stock has risen over the last 52 weeks, climbing nearly 27% to close on Friday at $255.16.
The deal values the total company at a fully diluted market capitalization of $17 billion with an enterprise value of $16.8 billion.
Once the transaction closes, Aspen would become a subsidiary of Emerson, and Lal Karsanbhai, Emerson's chief executive officer, said that the company expects to fully integrate Aspen into the business to advance its vision for software-defined control.
The transaction is expected to close in the first half of this year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 27, 2025 07:11 ET (12:11 GMT)
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