In a recent release, Aspen Technology (News - Alert), an asset optimization software company, announced it has acquired the Cipher Industrial Internet of Things (IIoT) cloud-native software and edge connectivity assets of RtTech Software, of New Brunswick, Canada.
The acquisition reportedly is to strengthen AspenTech’s asset optimization strategy by providing sophisticated cloud and edge processing technology that captures and aggregates critical data from assets throughout the plant and across the enterprise. This holistic view of every plant’s connected assets ideally will extend the modeling and machine learning abilities of aspenONE software to continually deliver accurate and actionable insights that optimize asset, plant and enterprise performance throughout the entire lifecycle.
“We look forward to being a key part of AspenTech’s Asset Optimization strategy, leveraging our best-in-class Industrial IoT and cloud-based technologies,” said Keith Flynn, Founder, President and CEO, RtTech. “AspenTech will also provide us with the go-to-market capabilities to bring Cipher to a broader range of customers.”
RtTech’s Cipher software is designed to deliver to the IIoT affordable, high performance connectivity for assets, without having to rip out and replace existing IT/OT infrastructures or business systems. Cipher is a cloud-native application with multitenant capabilities leveraging a modern architecture design, based on Microsoft’s (News - Alert) Azure Internet of Things platform.
In addition, Flynn and other key technology and sales contributors will join AspenTech. These employees will bring significant expertise in areas of edge and cloud computing, as well as in the waste water, manufacturing and pulp & paper industries, complementing AspenTech’s strategy to expand in asset-intensive environments outside of the process industries.
Financial terms of the transaction were not disclosed.
“The acquisition of RtTech Software technology delivers another essential piece in support of our asset optimization strategy,” said Antonio Pietri, President & CEO, AspenTech. “RtTech provides best-in-class cloud-based software and IIoT connectivity, delivering capabilities that allow for data cleansing and local analytics at the edge. Combining RtTech’s capabilities with AspenTech APM (News - Alert) software will offer our customers comprehensive solutions for Industrial IoT, Analytics and Machine Learning, with both on-premise and cloud-based deployment options.”