Siemens is to acquire Altair Engineering at a price of $113 per share, a $10 billion total, giving Siemens an astounding boost to its design and engineering software portfolio.
“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,” said Roland Busch, president and CEO of Siemens AG.
“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.”
“This acquisition represents the culmination of nearly 40 years in which Altair has grown from a startup in Detroit to a world-class software and technology company. We have added thousands of customers globally in manufacturing, life sciences, energy and financial services, and built an amazing workforce, and innovative culture,” said James Scapa, Altair’s founder and CEO.
“We believe this combination of two strongly complementary leaders in the engineering software space brings together Altair’s broad portfolio in simulation, data science, and HPC with Siemens’ strong position in mechanical and EDA design. Siemens’ outstanding technology, strategic customer relationships, and honest, technical culture is an excellent fit for Altair to continue its journey driving innovation with computational intelligence.”
Siemens added that Altair’s simulation portfolio, with its strength in mechanical and electromagnetic capabilities, will enhance its capabilities to produce comprehensive Digital Twin technology, to deliver a full-suite, physics-based, simulation portfolio as part of Siemens Xcelerator.
