CIMdata PLM Industry Summary Online Archive
6 July 2004
Company News
AspenTech Proposes Settlement With Federal Trade Commission
On July 2, 2004, Aspen Technology, Inc. ( http://www.aspentech.com ) and attorneys for the Federal Trade Commission's (FTC) Bureau of Competition (the "Parties") submitted a joint motion with the FTC's Secretary moving to withdraw from adjudication the FTC's complaint against AspenTech. This decision follows AspenTech's proposal of a Consent Agreement that would resolve the complaint in its entirety. As a result these actions, the administrative trial that was scheduled to begin on July 30, 2004, will not occur.
The proposed agreement would enable AspenTech to continue selling all of its software engineering products currently offered including those acquired in the acquisition of Hyprotech. AspenTech is pleased that it will be able to continue offering customers the high level of services, support and product investment customers have come to expect. This proposed agreement would enable the company to resolve the FTC litigation on terms that it believes are favorable for its key stakeholders.
The proposed consent decree has been submitted by the Parties for review and approval by the FTC Commissioners.
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