Siemens to Acquire Altair Engineering for $10.6 Billion at $113/Share, 19% Premium

Oct 30, 2024, 08:42 PM

Siemens AG has finalized an agreement to acquire Altair Engineering Inc., a leader in software for simulation, data analytics, and artificial intelligence. The acquisition, valued at approximately $10.6 billion, represents Siemens' largest-ever acquisition and includes a payment of $113 per share in cash, a 19% premium on Altair's October 21 closing price. The deal, which also includes Altair's debt, is expected to close in the second half of 2025. Siemens CEO Roland Busch described the acquisition as a 'milestone' and a 'logical next step' in strengthening Siemens' leadership in industrial software and AI. Altair provides engineering software to major industrial customers, including the Detroit 3 automakers.