Siemens AG (OTC:SIEGY), a global powerhouse in technology with interests in industry, infrastructure, mobility, and healthcare, reported a revenue of €75.9 billion and a net income of €9.0 billion in the fiscal year ending September 30, 2024. The merger aligns with Siemens (ETR:SIEGn)’ vision of transforming everyday technology and accelerating digital and sustainability transformations. For detailed analysis of this merger and its implications, InvestingPro subscribers can access comprehensive research reports, financial metrics, and expert insights covering both companies. The Pro Research Report provides in-depth analysis of Altair’s business model, growth trajectory, and competitive position. For detailed analysis of this merger and its implications, InvestingPro subscribers can access comprehensive research reports, financial metrics, and expert insights covering both companies. The Pro Research Report provides in-depth analysis of Altair’s business model, growth trajectory, and competitive position.
Siemens AG, a global powerhouse in technology with interests in industry, infrastructure, mobility, and healthcare, reported a revenue of €75.9 billion and a net income of €9.0 billion in the fiscal year ending September 30, 2024. The merger aligns with Siemens’ vision of transforming everyday technology and accelerating digital and sustainability transformations. For detailed analysis of this merger and its implications, InvestingPro subscribers can access comprehensive research reports, financial metrics, and expert insights covering both companies. The Pro Research Report provides in-depth analysis of Altair’s business model, growth trajectory, and competitive position.
Siemens AG, a global powerhouse in technology with interests in industry, infrastructure, mobility, and healthcare, reported a revenue of €75.9 billion and a net income of €9.0 billion in the fiscal year ending September 30, 2024. The merger aligns with Siemens’ vision of transforming everyday technology and accelerating digital and sustainability transformations.
The final voting results from the special meeting will be disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission on January 22, 2025. This merger is a significant step for both entities as they navigate the evolving landscape of digital and sustainable solutions.
While the press release contains forward-looking statements regarding the merger’s expected benefits and timeline, actual results may vary based on various risks and uncertainties. These include the possibility of delays in completing the merger, the risk of not obtaining necessary regulatory approvals, and potential adverse effects on Altair’s stock price, customer retention, and employee relations.
The information regarding the merger is based on a press release statement from Altair Engineering Inc. and does not include any speculative or promotional content. The focus remains on the factual aspects of the merger agreement and its approval by Altair’s stockholders, without endorsing the claims of either company involved.
In other recent news, Altair Engineering Inc. has seen significant developments in its operations. The computational intelligence company’s Q2 2024 earnings showed a robust increase with total revenue of $148.8 million and software revenue of $135.4 million, a 10.6% year-over-year rise. Altair has also entered into a definitive agreement to be acquired by Siemens for $10.6 billion. Following this announcement, RBC Capital raised its price target for Altair to $113, while William Blair downgraded the company’s stock from Outperform to Market Perform.
Altair has entered into several strategic collaborations recently. It has partnered with CGI, a top IT and business consulting services firm, to leverage data science and AI technologies for IT modernization and digital transformation across various industries. Additionally, Altair teamed up with Auburn University on a $1.25 million AFWERX Phase II STTR contract to advance aerospace technology. The company is also working with Moya Aero to develop electric vertical takeoff and landing vehicles and unmanned aerial vehicles as part of its Aerospace Startup Acceleration Program.
Furthermore, Altair has announced a collaboration with the European Space Agency to provide its aerospace technology to various European entities. These partnerships are part of the recent developments that continue to shape Altair’s trajectory in the engineering software solutions market.
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