Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, announced it has acquired Pipeline Scheduling System (“PSS”) and Dock Scheduling System (“DSS”) software from Refining Advantage, Inc.
PSS is a pipeline scheduling tool that enables pipeline companies, refineries and terminals with pipelines to optimize their pipeline schedules and improve profitability and safety. DSS is used by refineries and terminals to schedule their docks, enabling them to save on demurrage costs that are incurred due to delays in on-loading or off-loading cargo.
AspenTech’s existing Petroleum Supply Chain products include Aspen PIMS™, the world’s leading petroleum and petrochemical planning system and Aspen Petroleum Scheduler, which enables fast, accurate and collaborative creation of refinery schedules. Adding PSS & DSS, which are already used by some leading refineries, will enable AspenTech customers to further optimize their petroleum supply chains.
Terms of the transaction were not disclosed.Supporting Quotes Mark Fusco, President & CEO, AspenTech“aspenONE Petroleum Supply Chain software maximizes profitability and drives improvements across the entire petroleum supply chain. PSS and DSS will provide additional capabilities to enable our customers to manage and schedule entire facilities, including docks and pipelines. This will result in more effective optimization of the petroleum supply chain.” Supporting Resources www.aspentech.com. NOTE: Aspen Technology may provide information regarding possible future product developments including new products, product features, product interfaces, integration, design, architecture, etc. that may be perceived to represent “product roadmaps.” Any such information is for discussion purposes only and does not constitute a commitment by Aspen Technology to do or deliver anything in these product roadmaps or otherwise. Any such commitment must be explicitly set forth in a written contract between the customer and Aspen Technology, executed by an authorized officer of each company.