Aspen Technology Is Exploring Minority Stake Divestment: Bloomberg

Industrial software company Aspen Technology Inc AZPN is exploring options for a potential minority stake sale involving large industrial firms and buyout funds, Bloomberg reports.
Aspen manufactured software for companies in chemicals, manufacturing, energy, metals, and mining industries.
Big industrial companies had considered Aspen as a potential acquisition target.
Aspen’s high price expectations and management reluctance prevented it from becoming a full acquisition target.
Last year, AVEVA Group PLC AVEVF AVVYY agreed to acquire industrial software maker Osisoft for $5 billion. Emerson Electric Co EMR agreed to buy Open Systems International Inc for $1.6 billion.
In 2018, Rockwell Automation Inc ROK agreed to make a $1 billion equity investment in industrial software company PTC Inc PTC as part of a strategic partnership.
Last December, Honeywell International Inc HON agreed to acquire Sparta Systems for $1.3 billion to gain life sciences industry technology. Honeywell decided to transfer its listing to the Nasdaq to emphasize its technology focus.
Price action: AZPN shares traded higher by 1.3% at $139.3 on the last check Wednesday.