Siemens announced that it has completed the acquisition of Altair Engineering, a provider of industrial simulation and analysis software, for an enterprise value of approximately $10 billion.
With this acquisition, Siemens extends its reach in simulation and industrial artificial intelligence (AI) by adding capabilities in mechanical and electromagnetic simulation, high-performance computing (HPC), data science, and AI. Siemens said it expects the addition of the Altair team and technology to enhance digital twin efforts and make simulation more accessible.
“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. “Together, we will help our customers to innovate at the scale and speed that today’s complexity-driven world demands."
The acquisition of Altair is part of Siemens’ ONE Tech Company program and is expected to increase Siemens’ digital revenue share.
"Through the ONE Tech Company program, we will extend our leadership in industrial software," Busch said. "This enables all industries to benefit from the revolution driven by data and AI.”
With the completion of the acquisition of Altair, as well as the recent expansions of Siemens’ factories in California and Texas, Siemens has now invested more than $100 billion into the US over the past 20 years.