Aspen Technology Inc. (NASDAQ:AZPN), a provider of software and services to the process industries, said a federal court jury has returned a verdict in favor of the company in a case against M3 Technology Inc.
The jury found after a three-week trial that M3 Technology had misappropriated AspenTech trade secrets, infringed copyrights in AspenTech's refinery planning and scheduling software.
The jury also found that M3 Technology had tortuously interfered with AspenTech's confidentiality and non-competition agreement with a former AspenTech employee.
Aspen's Chief Executive said the company has invested millions of dollars over the years in developing its software solutions for process industry customers and that it is gratified by the jury's verdict protecting and enforcing its valuable intellectual property rights.
Aspen Technology is a provider of process optimization software solutions, which are designed to manage and optimize plant and process design, operational performance, and supply chain planning.
The company's aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, engineering and construction, and pharmaceutical industries.
AZPN closed Friday's regular session down 3.33% at $20.87. The stock has been trading between $12.61 and $23.53 for the past 52 weeks.