AspenTech still on the lookout for acquisitions

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AspenTech CEO Antonio Pietri

US-based AspenTech has reaffirmed its outlook for FY23 revenue of US$1.14-1.2 billion, and a GAAP net loss of $22.5-32.5 million, after posting Q1 revenue of $250.8m and a net loss of $11.2m. The FY23 forecasts at this stage don’t include a contribution from US$623m acquisition target, Micromine, with that deal still expected to close this quarter.

CEO Antonio Pietri said previously the Australian mining software business would have a material impact on AspenTech’s results.

He said this week the company was “patiently waiting for the Micromine acquisition to close”, reiterating the “high-profitability and high-growth” business was expected to fit neatly into the expanding industrial software group’s structure.

Commenting on further M&A after AspenTech bought Germany’s inmation Software GmbH during Q1, Pietri said the company remained in the hunt.

“We want to be judicious about M&A,” he said.

“You do acquisitions when they’re available and that availability will dictate our next move from an M&A standpoint.”


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