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AspenTech Completes Another Piece of the Refining Puzzle With Petrolsoft
Steve McVey - June 22, 2000

Event Summary

In an effort to broaden the compass of its supply chain management software suite, Aspen Technology has acquired Petrolsoft Corporation, which makes software to support downstream petroleum distribution and replenishment operations. Aspen will exchange 2.6 million shares of common stock for Petrolsoft in a pooling of interests transaction valued at nearly $60 million. Privately held, Petrolsoft currently has approximately 50 employees and posted calendar 1999 revenues of approximately $4.0 million...


 
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