Assets of McRock-backed RtTech Software sold to Aspen
Aspen Technology Inc (NASDAQ: AZPN) has acquired the Cipher industrial internet-of-things cloud-native software and edge connectivity assets of RtTech Software Inc. No financial terms were disclosed for the deal, which will see RtTech's founder, President and CEO Keith Flynn, and other personnel join Aspen. Moncton, New Brunswick's RtTech will continue to build the remaining business, Entrevestor reported. RtTech has been backed by McRock Capital, which led the company's $3 million Series A financing in 2015, and New Brunswick Innovation Foundation. U.S.-based Aspen said the acquisition strengthens its asset optimization strategy.
6 December 2017•4 mins read
