FREE copy of the Uptime Elements Implementation Guide once you subscribe to Reliability Weekly

Will Add Predictive and Prescriptive Maintenance Technology to aspenONE® Software;
Extends Company’s Asset Optimization Offerings

BEDFORD, Mass – October 27, 2016 

Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, announced it has acquired Mtelligence Corporation (known as Mtell), a San Diego, California-based pioneer in the field of predictive and prescriptive maintenance for asset performance optimization.

Mtell products enable companies to increase asset utilization and avoid unplanned downtime by accurately predicting when equipment failures will occur, understanding why they will occur, and prescribing what to do to avoid the failure.

The products provide a low-touch, rapidly deployable, end-to-end solution that combines a deep understanding of operations and maintenance processes, real-time and historical equipment data and cutting-edge machine learning technologies. As a result, customers can:

  • Monitor the health of equipment, detect early failure symptoms, diagnose their root-cause and recommend the best responses to avoid the failure
  • Continually learn and automatically adapt to changing equipment and process behaviors
  • Automatically share findings across a network of similar equipment to improve the overall process performance. 

Some of the world’s largest process manufacturing companies use Mtell software to detect and avoid failures well in advance of an actual breakdown, optimizing the performance of their assets. Customer results have shown significant benefits including improved industrial safety, removal of risk, reduced failures, enhanced productivity and increased profitability.

Mtell products include:

  • Previse – Mtell’s flagship end-to-end machine learning solution that monitors equipment health 24/7, detects early indicators of degradation or failures, diagnoses the root cause and prescribes responses that prevent breakdowns and unplanned downtime.
  • Basis – A connected condition monitoring application that facilitates collaboration between operations and maintenance organizations to determine the best course of action for equipment alert conditions.
  • Reservoir – A high performance, scalable, big data repository that captures, manages and synchronizes large volumes of time series, event and asset data from multiple sources.
  • Summit – A remote monitoring center application for monitoring, analyzing and benchmarking asset performance.

The purchase price of the transaction was $37M. Additional terms are disclosed in AspenTech’s Quarterly Report on Form 10-Q for the first quarter of Fiscal 2017 filed with the United States Securities and Exchange Commission.

Supporting Quotes

Antonio Pietri, President & CEO, AspenTech
“The acquisition of Mtell delivers another essential piece in support of our asset optimization strategy. The aspenONE® suite is already the most comprehensive, integrated and easy-to-use environment for optimizing the performance of process plants and assets. Adding Mtell will enable us to provide predictive and prescriptive maintenance capabilities that further differentiate our offerings, creating additional value for our customers and opening up new market opportunities.”

Paul Rahilly, Founder and CEO, Mtell
“Everyone at Mtell is excited to join the AspenTech team. Mtell shares AspenTech’s vision for creating breakthrough technology that generates the highest possible return over the lifetime of industrial assets. I am especially excited about combining our expertise in machine learning and maintenance workflows with AspenTech’s leading innovative technology and dedicated sales and customer success teams. We believe this will result in new and exciting developments for Mtell customers as well as growth opportunities for our employees.”

Supporting Resources

About AspenTech
AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, engineering and construction, and other industries that manufacture and produce products from a chemical process. With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering, manufacturing and supply chain operations. As a result, AspenTech customers are better able to increase capacity, improve margins, reduce costs and become more energy efficient. To see how the world’s leading process manufacturers rely on AspenTech to achieve their operational excellence goals, visit www.aspentech.com.

Upcoming Events

August 8 - August 10, 2023

Maximo World 2023

View all Events
banner
80% of Reliabilityweb.com newsletter subscribers report finding something used to improve their jobs on a regular basis.
Subscribers get exclusive content. Just released...MRO Best Practices Special Report - a $399 value!
DOWNLOAD NOW
Defect Elimination in the context of Uptime Elements

Defect Elimination means a lot of things to a lot of people. Uptime Elements offers a specific context for defect elimination [DE] as a success factor on the reliability journey [RJ].

Internet of Things Vendors Disrupting the Asset Condition Management Domain at IMC-2022

Internet of Things Vendors Disrupting the Asset Condition Management Domain at IMC-2022 The 36th International Maintenance Conference collocated with the RELIABILITY 4.0 Digital Transformation Conference [East]

Asset Management Technology

The aim of the Asset Management technology domain is to assure that IT/OT systems are focused on creating the value from the assets and that the business can deliver to achieve organizational objectives as informed by risk.

TRIRIGAWORLD AWARDS at MaximoWorld 2022

TRIRIGAWORLD AWARDS honors excellence in space optimization and facility management, A Reliabilityweb.com event to further advance asset management

IMC-2022 Who's Who: The World's Best Run Companies

The International Maintenance Conference (IMC) provides a fresh, positive community-based curated experience to gain knowledge and a positive perspective for advancing reliability and asset management through people, their managers, the strategy, the processes, the data and the technology. The world’s best-run companies are connecting the workforce, management, assets and data to automate asset knowledge that can be leveraged for huge beneficial decisions.

Uptime Elements Root Cause Analysis

Root Cause Analysis is a problem solving method. Professionals who are competent in Root Cause Analysis for problem solving are in high demand.

Reliability Risk Meter

The asset is not concerned with the management decision. The asset responds to physics

Why Reliability Leadership?

If you do not manage reliability culture, it manages you, and you may not even be aware of the extent to which this is happening!

Asset Condition Management versus Asset Health Index

Confusion abounds in language. Have you thought through the constraints of using the language of Asset Health?

Seven Chakras of Asset Management by Terrence O'Hanlon

The seven major asset management chakras run cross-functionally from the specification and design of assets through the asset lifecycle to the decommissioning and disposal of the asset connected through technology