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Altair Agrees To Be Acquired By Siemens For $10.6 Bln

October 30, 2024 — 05:30 pm EDT

Written by RTTNews.com for RTTNews ->

(RTTNews) - Altair Engineering Inc. (ALTR), Wednesday said it has agreed to be acquired by Siemens for $113.00 per share or about $10.6 billion in cash.

James Scapa, Altair's founder and CEO, said, "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."

The deal is expected to close in the second half of 2025.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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