Siemens to Acquire Altair Engineering for $10 Billion, Aiming for Software-Driven Growth

Oct 31, 2024

Siemens AG has announced an agreement to acquire engineering software maker Altair Engineering Inc. for $10 billion, including debt. This acquisition marks Siemens' largest to date and signifies the German engineering giant's strategic shift towards more profitable, software-driven product lines.

The company will pay $113 per share for Altair, which is based in Troy, Michigan. Altair provides engineering software to industries such as aerospace, automotive, energy, and financial services. The demand for such tools is expected to increase as artificial intelligence becomes more integrated into everyday life.

Altair's stock (ALTR, Financial) has seen a 29% rise this year, closing at $108.63 per share, with a market value of approximately $9.3 billion. Following the announcement, Altair’s stock saw a post-market decline of over 4%.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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