Siemens To Buy Engineering Software Firm Altair For $10.6 Billion
Wedoany.com Report-Oct 31 ,Siemens will buy Altair Engineering for $10.6 billion, the American engineering software firm said on Wednesday, as it seeks to strengthen its presence in the fast-growing industrial software market.
The offer price of $113 per share represents a premium of about 18.7% to Altair's closing price on Oct. 21, a day before Reuters first reported that the company was exploring a sale.
The deal for Michigan-based Altair is German company Siemens's biggest acquisition since Siemens Healthineers bought medical device maker Varian Medical Systems for $16.4 million in 2020.
Altair, whose simulation software helps predict how products would work in the real world, fits Siemens's strategy of using its hardware and software to combine the real and digital worlds.
The German maker of trains and factory equipment has been trying to expand beyond its traditional industrial customers by boosting its digital offering to improve the performance of its production lines, trains and buildings.
Related Products
XGN15-12 12kV Air Insulated Ring Main Unit
Shenzhen Dongshengyuan Electrical Equipment Co., Ltd.
The YB□-12/0.4 pre-installed substation
Shenyang Huade High Technology Electric Co., Ltd.
High-Voltage Isolation Dry-Type Transformer for 200kV DC System
Jinan XD Special Transformer Co., Ltd.
72.5kV 1250A 31.5kA SF6 free Gas-insulated Metal-enclosed Switchgear
Zhejiang Juhonkia Intelligent Electric Co., Ltd.
