Siemens acquires Altair in $10.6 billion deal

“This acquisition represents the culmination of nearly 40 years in which Altair has grown from a start-up in Detroit to a world-class software and technology company.”

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Siemens has announced that it is set to acquire computational intelligence specialist, Altair. The deal is worth approximately $10.6 billion, with Altair stockholders receiving £113.00 per share in cash. This cash per share represents a 19% premium to the closing price of Altair’s common stock on the 21st October 2024, the last trading day before the media speculation regarding this deal began.

The deal received unanimous approval from the Board of Directors at Altair and is expected to close during the second half of 2025, following regulatory approvals, Altair stockholder approval, and after customary closing conditions are met. Once complete, Altair’s common stock will no longer be listed on any public stock exchange.

“This acquisition represents the culmination of nearly 40 years in which Altair has grown from a start-up 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, Founder and CEO of Altair. “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.”

Roland Busch, President and CEO of Siemens AG added, “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.”