Siemens To Buy Altair For $10.6 Billion In Digital Portfolio Push

An anonymous reader quotes a report from Reuters: Siemens will buy Altair Engineering for $10.6 billion, the American engineering software firm said on Wednesday, as the German company 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 Siemens's biggest acquisition since Siemens Healthineers bought medical device maker Varian Medical Systems for $16.4 million in 2020.

The transaction is anticipated to add to Siemens' earnings per share in about two years from the deal's closing, which is expected in the second half of 2025. It will also increase Siemens' digital business revenue by about 8%, adding approximately 600 million euros ($651.36 million) to the company's digital business revenue in fiscal 2023. The transaction would have a revenue impact of about $500 million per year in the mid-term and more than $1 billion per year in the long term, Siemens said.

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