Siemens Completes $10 Billion Acquisition of Altair Engineering
Siemens has finalized its acquisition of Altair Engineering Inc., a significant player in the industrial simulation and analysis software market, for an enterprise value of approximately $10 billion. With this acquisition, Siemens extends its leadership in simulation and industrial artificial intelligence (AI) by adding new capabilities in mechanical and electromagnetic simulation, high-performance computing (HPC), data science and AI.
The integration of Altair’s technology is expected to improve Siemens’ digital twin offerings, allowing companies of any size to streamline the development of complex products.
“The addition of Altair’s highly complementary simulation portfolio to Siemens will enable us to offer a full-suite, physics-based, simulation portfolio as part of Siemens Xcelerator with strength in mechanical and electromagnetic capabilities,” a Siemens spokesperson told Machine Design.
The merger aims to leverage Altair’s data science capabilities to boost Siemens’ industrial domain expertise in product lifecycle and manufacturing process data. “Altair’s data science, high-performance computing and AI-powered simulation capabilities provide anyone, from engineers to generalists, access to simulation expertise so they can decrease time-to-market and accelerate design iterations,” the spokesperson said.
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“Adding Altair’s groundbreaking innovations to the Siemens Xcelerator platform will create the world’s most complete AI-powered design, engineering and simulation portfolio,” said Roland Busch, president and CEO of Siemens AG, in a press release. “Together, we will help our customers to innovate at the scale and speed that today’s complexity-driven world demands.”
The acquisition falls under Siemens ONE Tech Company initiative, which supports growth in digital revenue and market share. Siemens plans to focus on strategic areas, including software, AI-enabled products, connected hardware and sustainability.
