Emerson to Merge Software Units With AspenTech in $11 Billion Deal

Emerson Electric Co. is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York on Jan. 13, 2020. Brendan McDermid/Reuters

Industrial-automation systems maker Emerson Electric Co. said on Monday it would merge its software units with smaller rival Aspen Technology in a deal for about $11 billion.

The cash-and-stock deal is for about $160 per AspenTech share, the company said.