Emerson is set to acquire the remaining minority shares in Aspen, representing about 43% of the company’s stock at $265 a share.

Emerson Electric Co. agreed to buy the rest of Aspen Technology that it doesn’t already own in a deal that values the industrial-software company at a fully diluted market value of $17 billion.

Emerson Electric will acquire all outstanding shares of AspenTech it does not already own for $265 per share, valuing the stake at $7.2 billion, the companies said on Monday. Emerson, which currently owns about 57% stake in AspenTech,