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Wednesday, 16 Jan 2019

Hyperion Announces New Direction in the Russian Federation and CIS

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Moscow, Russian Federation and Nicosia, Cyprus  January 2010.  Hyperion Systems Engineering Ltd., the leading independent solutions provider to the global process industry, announced the successful conclusion of its negotiations with Aspen Technology Inc. for an immediate termination of its agreement for resale of AspenTech software in Russia and the CIS.

For the last 2 years we have been discussing with AspenTech, the business philosophy and market approach for Russia and the CIS. Our Russian subsidiary has successfully brought AspenTech software products to many customers in the region since 2003. Today, we believe that the best way forward for Hyperion was to exit this relationship, at the same time protecting our customers’ best interests”, stated Stavros Spanos, General Director of Hyperion Russia and Executive VP of the Hyperion Group, who continued: “Entering our 8th year of successful presence in Russia/CIS, Hyperion remains committed to the Russian market and to providing world class solutions to our customers. The release from the constraints of the AspenTech relationship provides Hyperion Russia with the flexibility to introduce different best-in-class leading technologies to our customers in line with our overall Hyperion strategy”.

To ensure the service to its customers remains uninterrupted Hyperion Russia will continue to provide Software Maintenance and Support services to customers in Russia through March 31st 2010. Effective April 1st 2010 the provision of these services will be directly assumed by AspenTech.