HYSYS is a portmanteau formed from Hyprotech, the name of the company which created the software, and Systems.[3]
History
HYSYS was first conceived and created by the Canadian company Hyprotech, founded by researchers from the University of Calgary.[5][6] The HYSYS Version 1.1 Reference Volume was published in 1996.[7] In May 2002, AspenTech acquired Hyprotech, including HYSYS for approximately $99 million.[8][9]
Following a 2004 ruling by the United States Federal Trade Commission, AspenTech was forced to divest its Hyprotech assets,[10] including HYSYS source code, ultimately selling these to Honeywell. Honeywell was also able to hire a number of HYSYS developers, ultimately mobilizing these resources to produce UniSim.[11] The divestment agreement specified that Aspentech would retain rights to market and develop most Hyprotech products (including HYSYS) royalty-free.[12] As of 2024, AspenTech continues to produce HYSYS.[13]
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