Siemens has acquired Altair Engineering Inc. as it looks to strengthen its position in industrial software and artificial intelligence (AI).
Having grown from a startup in Detroit in 1985 to a world-class software and technology company, Altair has established itself as a leading solutions provider in the industrial simulation and analysis market.
Under the terms of the deal, Altair shareholders will receive $113 per share, valuing the company at approximately $10bn.
Speaking about the acquisition, Roland Busch, President and CEO of Siemens AG, said: “Acquiring Altair marks a significant milestone for Siemens. This strategic investment aligns with our commitment to accelerate the digital and sustainability transformations of our customers by combining the real and digital worlds. The addition of Altair’s capabilities in simulation, high performance computing, data science, and artificial intelligence together with Siemens Xcelerator will create the world’s most complete AI-powered design and simulation portfolio.
“It is a logical next step: we have been building our leadership in industrial software for the last 15 years, most recently, democratising the benefits of data and AI for entire industries.”
For more articles like this, visit our Industrial Data & AI channel
