Recently, German industrial giant Siemens announced a significant acquisition, deciding to acquire American software company Altair Engineering for approximately $10 billion. The purpose of this deal is to further solidify Siemens' position in the field of artificial intelligence.
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Siemens mentioned in their statement that through this acquisition, the company's technological capabilities will be further enhanced, especially in the leadership position of industrial software. As is well known, Siemens has always been a manufacturer of heavy industrial equipment, but in recent years, they have also been actively transforming towards digital technology and factory automation. Roland Busch, CEO of Siemens, stated that Altair's expertise in simulation, high-performance computing, data science, and artificial intelligence will significantly enhance Siemens' influence in these areas.
This acquisition is not only aimed at strengthening Siemens' technical capabilities but will also promote the development of its digital business. According to Siemens' forecast, this transaction will increase their digital business revenue by 8%, with an estimated increase of approximately $650 million in the fiscal year 2023. For Altair's shareholders, they will receive a return of $113 per share, indicating that Altair's overall valuation is close to $10 billion.
It is worth noting that Altair Engineering was founded in 1985 and went public on Nasdaq in 2017. Headquartered in Michigan, USA, Altair currently employs over 3,500 people, while Siemens has a global workforce of more than 320,000. This acquisition is undoubtedly a step further in Siemens' market expansion and is expected to have a positive impact on their business worldwide.
Siemens also emphasized in their statement that this acquisition will give them the most comprehensive AI-driven design and simulation portfolio globally. This is of significant strategic importance for enhancing Siemens' competitiveness in the industry, especially in the face of growing digital demands.
Key Points:
🌟 Siemens is acquiring Altair Engineering for approximately $10 billion to strengthen its artificial intelligence capabilities.
📈 It is expected that this acquisition will increase Siemens' digital business revenue by 8%, equivalent to $650 million.
💼 Altair Engineering was founded in 1985 and currently employs over 3,500 people in Michigan, USA.