Aspen Technology, Inc. entered into a definitive agreement to acquire Micromine Pty Ltd. from Potentia Capital Pty. Ltd. and others for AUD 900 million.
July 26, 2022
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Aspen Technology, Inc. (NasdaqGS:AZPN) entered into a definitive agreement to acquire Micromine Pty Ltd. from Potentia Capital Pty. Ltd. and others for AUD 900 million on July 27, 2022. AspenTech currently intends to finance the transaction through a combination of cash on hand and additional indebtedness and has entered into a commitment letter with JP Morgan Chase Bank, N.A. (“JPM”) pursuant to which JPM has committed to provide an unsecured bridge term loan in the amount of $475 million (AUD 685.8 million), subject to customary limited conditions. The acquisition is expected to close in the fiscal second quarter of 2023, subject to receipt of regulatory approvals. Micromine is expected to be accretive to AspenTech on a free cash flow basis within the first 12 months of the transaction closing.
Goldman Sachs & Co. LLC and Atrico Pty Ltd are serving as financial advisors and DLA Piper is acting as legal counsel to AspenTech. JP Morgan is serving as financial advisor and Johnson Winter & Slattery is acting as legal counsel to Micromine, Potentia Capital and the other sellers. John L. Savva of Sullivan & Cromwell LLP represents Goldman Sachs as financial adviser to AspenTech. Ernst & Young Transaction Advisory Limited, Accountancy Arm served as Due Diligence Provider to Potentia Capital Pty. Ltd.
Aspen Technology, Inc. is an industrial software company. The Company develops solutions to address complex industrial environments where it is critical to optimize the asset design, operations and maintenance lifecycle. The Company combines modeling, simulation, and optimization capabilities with industrial operations expertise and applies advanced analytics to improve the profitability and sustainability of production assets. It operates through three segments: OSI, Inc., SSE and Heritage AspenTech. It offers products for asset performance management, manufacturing and supply chain, performance engineering, subsurface science & engineering and artificial intelligence of things hub (AIoT). Its products include Aspen Mtell, Aspen Fidelis, Aspen ProMV, Aspen Process Pulse, Aspen Unscrambler, Aspen DMC3, Aspen Virtual Advisor for DMC3, Aspen Enterprise IP.21 Historian, Aspen GDOT, Aspen Unified Reconciliation and Accounting, Aspen PIMS-AO and others.
Aspen Technology, Inc. entered into a definitive agreement to acquire Micromine Pty Ltd. from Potentia Capital Pty. Ltd. and others for AUD 900 million.
ASPEN TECHNOLOGY, INC. 
