FTC challenges AspenTech’s acquisition of Hyprotech

Aspen Technology Inc. reported Aug. 7 that the Federal Trade Commission (FTC) has filed an administrative complaint challenging its May 2002 acquisition of Hyprotech Ltd. Previously a unit of AEA Technology, Hyprotech supplied simulation software solutions to the upstream oil, gas and refining industries, while AspenTech supplied modeling software for chemical manufacturers.

The acquisition reportedly didn’t require pre-merger review by the FTC under the Hart-Scott-Rodino Act. However, 15 months ago, the FTC launched an investigation into the acquisition, with which AspenTech states it has fully cooperated. AspenTech adds that it has vigorously defended its position and continues to maintain that its acquisition does not lessen competition.

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