Aspen Technology Inc has announced its second acquisition within a week. This time its target is IISYS Inc, a Houston, Texas-based developer of software for the process manufacturing industry for collecting, reconciling and reporting yield-accounting information. Its customers include Shell Services Co, Texaco Refining & Marketing and other large petroleum companies. AspenTech will pay $8.4m for IISYS, plus the assumption of $1.6m in debt, and will post an $8.5m charge relating to acquired in-process research and development. The Cambridge, Massachusetts-based company, which has just announced its intention to acquire Belgium software house Cimtech SA for $5m (CI No 3,360), says it will incorporate the IISYS products into its own smart manufacturing software aimed at the process industries.
