Chris Pike Appointed to Aspen Technology Board of Directors; Pike brings strong investment and leadership experience to position
CAMBRIDGE, Mass., Jan 25, 2006 (BUSINESS WIRE) -- Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, today announced the appointment of Chris Pike to the Company's Board of Directors. Pike replaces Douglas A. Kingsley, who is resigning his position. "On behalf of the entire Board, I would like to thank Douglas Kingsley for his participation on the Board during a critical time in the Company's history. We wish him much success in his future endeavors," said Mark Fusco, President and CEO, AspenTech.
Fusco continued: "The addition of Chris Pike's rich background in business and corporate leadership to AspenTech's Board of Directors provides added assurance that AspenTech will deliver on the expectations of our shareholders. His experience will certainly play a role in guiding the future of the Company."
Pike has been a partner at Advent International, a global private equity firm, since January 2003, having joined the company as a principal in 1997. During his association with Advent International, Pike has participated in a number of investments, including Contact East Inc., Datek Online Holdings Inc., The Island ECN Inc., GFI Group Inc., Long Term Care Group Inc., Managed Healthcare Associates Inc., RedPrairie Corp., and Americus Dental Labs, Inc.
Prior to joining Advent International, he spent five years in the Business Assurance and Financial Services groups of Coopers & Lybrand, providing merger and acquisition advisory services to clients in the financial, manufacturing and business services industries.
Pike is currently a director of GFI Group (NASDAQ: GFIG), Long Term Care Group and Americus Dental Laboratories. He holds a Bachelor of Arts degree in economics and Spanish from Amherst College.
Aspen Technology, Inc. provides industry-leading software and professional services that help process companies improve efficiency and profitability by enabling them to model, manage and control their operations. AspenTech's integrated aspenONE(TM) solutions are aligned with the key industry business processes, providing manufacturers the capabilities they need to optimize operational performance, make real-time decisions and synchronize the plant and supply chain. Over 1,500 leading companies already rely on AspenTech's software, including Bayer, BASF, BP, Chevron Corporation, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Sanofi-Aventis, Shell, and Total. For more information, visit www.aspentech.com.
This press release may contain forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may vary significantly from AspenTech's expectations based on a number of risks and uncertainties, including, without limitation: AspenTech's plan to improve operational performance may not be implemented effectively; AspenTech has identified material weaknesses in its internal controls with respect to software license revenue recognition and other matters, that, if not remedied effectively, could result in material misstatements; risks around securities litigation and investigations; AspenTech's lengthy sales cycle makes it difficult to predict quarterly operating results; fluctuations in AspenTech's quarterly operating results; AspenTech's dependence on customers in the cyclical chemicals, petrochemicals and petroleum industries; the possibility of new accounting standards or the interpretation of existing accounting standards affecting our financial results; AspenTech's ability to raise additional capital as required; intense competition; AspenTech's need to develop and market products successfully; reliance on relationships with strategic partners; challenges associated with international operations; and other risk factors described from time to time in AspenTech's periodic reports filed with the Securities and Exchange Commission. AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. AspenTech expressly disclaims any current intention to update forward-looking statements after the date of this press release.
AspenTech, aspenONE and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
Aspen Technology, Inc.
Marie Telepneff, 617-949-1324
AspenTech Investor Relations
617-949-1624 or 888-996-7080