Reported 27 days ago
Siemens AG has announced its acquisition of Altair Engineering Inc. for $10 billion, marking its largest acquisition to date as it shifts towards higher-margin, software-driven products. The deal, which involves a premium of 19% over Altair's recent share price, is expected to close in the second half of next year. Siemens aims to enhance its capabilities in engineering simulation, complementing its existing software offerings, while Altair reported a 13% revenue increase in its latest quarter.
Source: YAHOO