Industry Summary Articles

Aspen Technology, Inc. announced it has acquired Fidelis Group, LLC of Lake Jackson, Texas. Fidelis is a leading provider of asset reliability software that process industry companies use to predict and optimize asset performance. Customers use the software to mitigate risk and achieve significant capital expense savings and increased availability.

Many owner-operators mandate risk analysis for all large capital projects, typically those above five million dollars in capital spending. Asset reliability analysis is performed in these projects, to assess expected plant availability and mitigate risks that could disrupt plant production.

Fidelis Group offers two asset reliability software products, Fidelis Titan 2 and Fidelis WST:

Owner-operators in chemicals, upstream, refining and power use Fidelis Titan 2 as a discrete event simulation tool for asset reliability modeling, to optimize designs, debottleneck existing assets and increase availability. Engineering & Construction companies also use Titan 2 to evaluate process reliability and availability required to meet their design guarantees. Customers using Titan 2 can achieve capital expense savings by optimizing redundancy systems and intermediate storage, while ensuring high plant availability.

Fidelis WST is a Warehouse Spare Part Sufficiency Tool that optimizes parts stocking strategies to ensure high availability, while reducing spare part inventory costs that can represent tens of millions of dollars in capital expense.

The aspenONE® suite provides market leading process engineering, manufacturing, and supply chain optimization capabilities. The addition of Fidelis Group asset reliability capabilities will eventually enable AspenTech to offer the process industry’s first process optimization software that includes reliability modeling -- for more reliable designs, higher plant availability, reduced CAPEX and improved plant operations throughout the asset lifecycle.

The acquisition supports AspenTech’s increased focus on asset optimization, by enabling customers to optimize the design, operation and maintenance of their assets throughout the asset lifecycle.

Terms of the transaction were not disclosed.

Antonio Pietri, President & CEO, AspenTech, said, “The aspenONE suite is the most comprehensive, integrated and easy-to-use environment for process optimization. Adding Fidelis Group’s leading technology will enable AspenTech to provide asset reliability capabilities that are critical for effective risk mitigation in process plants. Asset reliability is also an essential piece of a holistic approach to asset optimization. We will continue to work with our customers to maximize the highest possible financial return over the lifetime of their process industry assets.”

To view the original press release, please click here.

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