Siemens to Acquire Altair Engineering in $10 Billion Deal to Strengthen Software Operations

Siemens announces a $10 billion acquisition of Altair Engineering, aiming to fortify its software division. The strategic move, set to conclude by year's end, targets growth in industrial software amidst AI-driven advancements.

Siemens, a powerhouse in global industrial technology, has revealed plans to acquire Michigan-based Altair Engineering in a landmark deal valued at approximately $10 billion. This ambitious acquisition, confirmed on Wednesday, signifies Siemens' commitment to bolstering its software capabilities as industries worldwide increasingly lean on advanced digital solutions. By integrating Altair’s cutting-edge industrial software portfolio, Siemens intends to meet the growing demand for technology solutions that harness artificial intelligence (AI) and data-driven insights.

Siemens to Acquire Altair Engineering: A Strategic Expansion into Software

The German industrial giant Siemens is set to purchase the U.S.-based software company Altair Engineering in an estimated $10 billion transaction, marking a strategic push into the industrial software market. Siemens, headquartered in Munich, formalized its intent with Altair in an agreement that offers Altair shareholders $113 per share—a deal expected to finalize by the end of 2024.

In recent years, Siemens has pursued a strong focus on digital transformation within industrial sectors, seeking to broaden its influence in software technology. Altair, with its impressive portfolio of software solutions, provides essential digital tools for industries as diverse as aerospace, automotive, energy, and even finance. Through this acquisition, Siemens aims to integrate Altair’s expertise, providing its clients with advanced solutions that support data-driven operations and AI-enhanced functionalities.

Altair Engineering's Expertise and Growing Demand for AI Solutions

Founded in Michigan, Altair Engineering has built a reputation for developing high-caliber industrial software tailored for sectors that require reliable, data-centered solutions. With a workforce of around 3,500 employees, Altair serves some of the most data-intensive industries, including aerospace and energy, where the need for advanced analytics, AI integration, and efficient digital solutions has surged.

The increasing application of AI across various domains is reshaping industrial landscapes globally. Companies now rely on complex software systems not only to optimize operations but to adapt to real-time data and predictive analysis. Altair’s software tools are uniquely positioned to cater to these evolving needs, offering Siemens a solid pathway to capitalize on rising AI trends and expand its software offerings across diverse industries.

"A Historical Moment for Siemens," Says CEO Roland Busch

Roland Busch, Siemens' CEO and president, expressed enthusiasm for the acquisition, highlighting its historical significance for Siemens' ongoing evolution. “This is an important historical moment,” Busch stated, emphasizing that the acquisition underscores Siemens' ambition to lead in the digital solutions arena. By joining forces with Altair Engineering, Siemens envisions amplifying its software division’s role in the global industrial sector, providing solutions that keep pace with AI advancements.

 Siemens' Vision for the Future of Industrial Software

With the acquisition of Altair Engineering, Siemens is strategically positioning itself to address the rising demand for industrial software that incorporates AI and advanced analytics. As industries continue to embrace digital tools, Siemens is setting a precedent by investing in robust, AI-driven software capabilities to meet this demand. Expected to finalize by year’s end, the acquisition marks a milestone for Siemens in strengthening its influence in an increasingly digital world, one driven by data, precision, and the potential of AI innovation.