Behind any corporate operation we always find a business strategy that is fueled by new synergies. This is what happens in the purchase of Altair Engineering by Siemens, which will make the latter a leader in software applied to the industry. Specifically, the operation, which will involve an outlay of 10 billion dollars, results in “the company with the most complete AI-driven portfolio and design in the world,” reports the German company. It also reinforces Siemens’ leading position as a supplier in the high-growth combined PLM and EDA simulation market, strengthening Siemens’ number one position in industrial software.
The integration of Altair into Siemens accelerates the democratization of simulation with data science, as well as simulation driven by Artificial Intelligence (AI) beyond experts to design engineers and R&D generalists. Furthermore, this acquisition supports Siemens’ strict capital allocation towards sustainable value creation. Thus, on the one hand, Siemens’ experience in the sector and the large amount of data captured in Siemens Xcelerator is leveraged with Altair’s data science capabilities to accelerate digital transformation across industries.
Clients of both companies will benefit from the combination of a highly complementary portfolio of simulation solutions and products, with special strength in mechanical and electromagnetic capabilities.
Altair shareholders will receive $113 per share. This offer price represents a 19% premium to Altair’s unaffected closing price on October 21, 2024, the last trading day before media reports of a possible transaction.
Siemens gains muscle with Altair in terms of mechanical and electromagnetic capabilities
For Roland Busch, president and CEO of Siemens, “the acquisition of Altair marks an important milestone for Siemens. This strategic investment aligns with our commitment to accelerate our customers’ digital and sustainability transformations by combining the real and digital worlds. . Incorporating Altair’s capabilities in high-performance computing simulation, data science and artificial intelligence together with Siemens AI for entire industries,” he added.
This transaction “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 have built an incredible workforce and innovative culture,” said James Scapa, founder and CEO of Altair. “We believe this combination of Two strongly complementary leaders in the engineering software space bring together Altair’s broad portfolio in simulation, data science and HPC with Siemens’ strong position in mechanical design and EDA. “Siemens’ outstanding technology, strategic customer relationships and honest technical culture are a great fit for Altair to continue its journey of driving innovation with computational intelligence.”
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