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Honeywell completes transaction with Aspen Technology

01/11/2005

Honeywell has completed the acquisition of the intellectual property of the HYSYS® modeling software and the Operator Training Simulation (OTS) business from Aspen Technology Inc.

"With this acquisition, customers can now rely on Honeywell for a much broader scope of advanced simulation solutions that span across the life-cycle of a plant," said Jack Bolick, president of Honeywell Process Solutions. "We have not only acquired world-class simulation technology, but we've also brought on board simulation experts with significant skills and abilities to help our customers better understand their plant processes and how they can become more profitable."

The acquired technologies extend the capabilities of Honeywell's Experion(tm) Process Knowledge System (PKS) by improving its ability to gather data throughout the plant and couple it with domain knowledge embedded in HYSYS models and Honeywell's Advanced Solutions portfolio.

Honeywell fully intends to develop, market and sell HYSYS as a process-modeling tool for steady-state simulation, design, performance monitoring, optimization and business planning. To help achieve this goal, Honeywell has recently hired a significant number of key HYSYS development staff from Aspen Technology.

The acquisition broadens Honeywell's portfolio of operator training solutions, which are unified under one platform in a common simulation environment. By enabling simulation throughout the lifecycle of a plant, this platform aims to improve customer profitability by placing information in front of decision makers and maximizing plant resources.

Honeywell now has more than 100 engineers and development staff in 15 regional offices around the world who are focused on simulation solutions. Acquired operator training solutions are all available for immediate sales. HYSYS offline products and an enhanced online optimization solution, using HYSYS technology, are expected to be available for sale shortly.