12:23 - 31.10.2024

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 October 31, Fineko/abc.az. Siemens has announced the acquisition of Altair Engineering Inc., a leading provider of industrial simulation and analysis software, for $10 billion.

ABC.AZ informs that Altair shareholders will receive $113 per share, which is 19% higher than the closing price before the information about the deal appeared. This will strengthen Siemens' position as a leader in industrial software, the company noted.

Roland Busch, President and CEO of Siemens, pointed out that the deal will accelerate digital and sustainable transformation for customers by combining the real and digital worlds. Integrating Altair's simulation and artificial intelligence capabilities with Siemens Xcelerator will create the most comprehensive AI-based design and simulation portfolio.

The transaction is expected to close in the 2nd half of 2025, subject to all standard conditions