Siemens to buy engineering software firm Altair for $10.6 bln

Reuters - 30/10
Siemens will buy Altair Engineering for $10.6 billion, the American engineering software firm said on Wednesday, as it seeks to strengthen its presence in the fast-growing industrial software market.
Oct 30 (Reuters) - Siemens (SIEGn.DE), opens new tab will buy Altair Engineering (ALTR.O), opens new tab for $10.6 billion, the American engineering software firm said on Wednesday, as it seeks to strengthen its presence in the fast-growing industrial software market.
The offer price of $113 per share represents a premium of about 18.7% to Altair's closing price on Oct. 21, a day before Reuters first reported that the company was exploring a sale.
The deal for Michigan-based Altair is German company Siemens's biggest acquisition since Siemens Healthineers (SHLG.DE), opens new tab bought medical device maker Varian Medical Systems for $16.4 million in 2020.
Altair, whose simulation software helps predict how products would work in...
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