Founded in 1981, AspenTech was born out a joint research project between the Mas

sachusetts Institute of Technology (MIT) and US Department of Energy an Advanced S

ystem for Process Engineering (ASPEN) Project.[1][2]
On July 15, 2004, AspenTech was required by the Federal Trade Commission to make
divestitures in regard to an anti-trust ruling against its acquisition of Hypro
Tech. This included divestment of batch and continuous simulation systems and in
tegrated engineering software business (AXSYS).[3] In the same year, a class act
ion lawsuit was filed against Aspen Technology and its certain officers over iss
uance of misleading statements and improper revenue recognition. [4]
On November 24, 2004, the company restated results for the fiscal years ended Ju
ne 2000 through June 2004 after its audit committee discovered the company impro
perly accounted for certain software licenses.[5] On March 15, 2005, the company
announced that the Audit Committee of the Company's Board of Directors had comp
leted its previously announced financial review and the company had restated its
financials for each of the fiscal years ended June 30, 2000 through June 30, 20
04.[6]
Aspen Technology was delisted from the NASDAQ on February 19, 2008 for failing t
o meet financial transparency guidelines of the NASDAQ exchange.[7] In February,
2010 the company was relisted on the NASDAQ exchange.[8]