Siemens Agrees to Buy Software Group Altair in $10 Billion Deal
Summary
Siemens AG has agreed to buy software maker Altair Engineering Inc. for an enterprise value of $10 billion, furthering the German engineering giant’s migration to higher margin, software-driven product lines. In its largest-ever acquisition, Siemens will pay Altair investors $113 a share, according to a statement . The transaction , expected to close in the second half of next year, represents a 19% premium to Altair’s Oct. 21 closing price, the last trading day prior to reports regarding a possible acquisition.
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Engineering & Scientific
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Industrial Software
SaaS
CAD/CAM Software
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Siemens AG
$1B+