Siemens completes $10 billion acquisition of Altair Engineering

Investing.com -- Siemens (ETR:SIEGn) has announced the successful acquisition of Altair Engineering Inc., a key player in the industrial simulation and analysis software market. The deal, which values Altair at approximately $10 billion, solidifies Siemens’ position in the simulation and industrial artificial intelligence (AI) sector by adding new capabilities in mechanical and electromagnetic simulation, high-performance computing (HPC), data science, and AI.

The integration of Altair into Siemens will boost the Digital Twin, an extensive digital replica of physical assets, processes, people, places, systems and devices that can be used for various purposes. The deal will make simulation more accessible, enabling companies of all sizes to expedite the market release of complex products.

Roland Busch, President and CEO of Siemens AG (OTC:SIEGY), welcomed the Altair community of customers, partners, and colleagues to Siemens. He noted that combining Altair’s innovative solutions with the Siemens Xcelerator platform will result in the most comprehensive AI-driven design, engineering, and simulation portfolio globally. Busch emphasized that through the ONE Tech Company program, Siemens will enhance its leadership in industrial software, allowing all industries to benefit from the data and AI-driven revolution.

The addition of Altair’s expertise in simulation, HPC, data science, and AI will enhance Siemens’ ability to deliver more efficient and sustainable products and processes. Siemens customers, ranging from engineers to generalists, will now have access to new simulation expertise, allowing them to optimize their high-performance computing processes, develop new AI tools, and perform data analytics. This will accelerate innovation and digital transformation for companies of all sizes.

The Altair acquisition forms part of Siemens’ ONE Tech Company program and will significantly boost Siemens’ digital revenue share. This growth program allows Siemens to expand its strong market position and reach a higher level of performance and value creation. Siemens is prioritizing capital allocation to strategic growth fields through acquisitions like this one and R&D investments into areas including software, AI-enabled products, connected hardware, and sustainability.

With the completion of the Altair acquisition and recent expansions of Siemens’ factories in California and Texas, Siemens’ total investment in the United States over the past 20 years now exceeds $100 billion.

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