AspenTech announces acquisition of RtTech Software

Aspen Technology, the asset optimization software company, announced it has acquired the Cipher Industrial Internet of Things (IIoT) cloud-native software and edge connectivity assets of RtTech Software Inc. of New Brunswick, Canada.

The acquisition strengthens AspenTech’s asset optimization strategy by providing cloud and edge processing technology that captures and aggregates critical data from assets throughout the plant and across the enterprise.  This holistic view of every plant’s connected assets will extend the modeling and machine learning abilities of aspenONE software to continually deliver actionable insights that optimize asset, plant and enterprise performance throughout the entire lifecycle.

RtTech’s Cipher software delivers on the IIoT promise of connectivity for old, new, local and remote assets, without having to rip out and replace existing IT/OT (information technology/operational technology) infrastructures or business systems.

With Cipher, customers can eliminate the challenge of having to build and maintain their own IIoT infrastructure to connect their assets to the enterprise.  Using the latest IIoT technology, Cipher works with almost any commercially available edge device.  It supports a range of industry-standard communication and security protocols, enabling thousands of remote and local assets and devices (wired or wireless) to be connected to Cipher’s cloud-based data store for advanced analytics and asset optimization across the enterprise.

Cipher is a cloud-native application with multitenant capabilities leveraging a modern architecture design, based on Microsoft’s Azure Internet of Things platform. Key current components include:

  • Cipher Portal: Used on-premise and in the Cloud to create an aggregated data store of asset information for advanced analytics and asset optimization.
  • Cipher Connect: Used “at the edge” to collect, cleanse and analyze data from sensors and other data sources.  Cipher Connect supports a range of communication protocols including MQTT, OPC UA, OPC DA, Modbus, BACnet, Ethernet IP, Allen Bradley and MT Connect for connecting almost any asset or device.  Data collected by Cipher Connect can be written to a Cipher Portal on-premise or in a public or private cloud for advanced analysis and asset optimization.  Data can also be written to enterprise systems such as historians, APM, EAM (enterprise asset management) and ERP (enterprise resource planning) for use in business analysis and applications.

In addition, the founder of RtTech, Keith Flynn, along with other key technology and sales contributors will join AspenTech. These employees will bring expertise in areas of edge and cloud computing, as well as in the waste water, manufacturing and pulp & paper industries, complementing AspenTech’s strategy to expand in asset-intensive environments outside of the process industries.

Financial terms of the transaction were not disclosed.


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