Siemens wants to buy Altair

Siemens wants to further consolidate its position as a technology company and drive forward the development of a comprehensive AI-supported portfolio for design and simulation. This is worth around USD 10.6 billion to the Group: Siemens is offering Altair shareholders USD 113 per share, which corresponds to an enterprise value of around USD 10 billion - a premium of 19% on Altair's unaffected closing price on October 21, 2024. Siemens expects the acquisition to be accretive to earnings per share (before PPA effects) from the second year after closing.

CEO Roland Busch: »A logical next step.«

»The acquisition of Altair is a significant milestone for Siemens and accelerates our digital transformation,« said Dr. Roland Busch, CEO of Siemens AG. The integration of Altair's simulation, data science and AI competencies into Siemens Xcelerator is expected to optimize design processes and shorten time-to-market.

Prof. Dr. Ralf P. Thomas, CFO of Siemens, sees significant sales and cost synergies: »The transaction is expected to contribute over USD 150 million annually to EBITDA in the second year after closing.«

Altair Engineering is a global leader in computational science and artificial intelligence (AI), providing software and cloud solutions in simulation and analytics, data science and AI, and high-performance computing, enabling organizations across all industries to operate more effectively and make smarter decisions in an increasingly connected world. Altair was founded in 1985, went public in 2017 (Nasdaq) and is headquartered in Troy, Michigan (USA). Of its more than 3,500 employees, approximately 1,400 work in research and development.

Altair's simulation portfolio is highly complementary. In particular, with its strong capabilities in mechanical and electromagnetic simulation, Siemens extends its comprehensive Digital Twin to offer a complete physics-based simulation portfolio as part of Siemens Xcelerator. Altair's data science and AI-powered simulation capabilities enable everyone from engineers to generalists to work with simulation tools. This accelerates design iterations and shortens time-to-market. In addition, Altair's data science capabilities will further accelerate the utilization of Siemens' industry expertise in product lifecycles and manufacturing processes

The acquisition is expected to be completed in the second half of 2025 and is subject to the usual regulatory approvals.