German industrial giant Siemens spent about $10 billion to acquire US software company Altair Engineering, a move aimed at strengthening its position in the field of artificial intelligence and further promoting the development of its digital business. The deal is seen as a key step in Siemens' digital transformation strategy, and Altair's expertise in simulation, high-performance computing and AI will significantly enhance Siemens' technical strength and market competitiveness. The acquisition not only reflects Siemens' strategic investment in the future of artificial intelligence technology, but also indicates a further strengthening of the trend of integration between industrial giants and software companies.
Recently, German industrial giant Siemens announced a major acquisition, which they decided to acquire US software company Altair Engineering for about $10 billion. The purpose of this deal is to further consolidate Siemens' position in the field of artificial intelligence.
Siemens mentioned in the statement that through this acquisition, the company's technical strength will be further enhanced, especially its leadership in industrial software. As we all know, 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. Siemens CEO Roland Busch said Altair's professional capabilities in simulation, high-performance computing, data science and artificial intelligence will greatly enhance Siemens' influence in these areas.
The acquisition is not only to enhance Siemens' technical capabilities, but will also promote the development of its digital business. According to Siemens' forecast, the deal will increase their digital business revenue by 8%, and the digital business revenue is expected to increase by about $650 million in fiscal 2023. For Altair shareholders, they will receive a return of $113 per share, which also indicates that Altair's overall valuation is close to $10 billion.
It is worth mentioning that Altair Engineering was founded in 1985 and was listed on Nasdaq in 2017. Altair, headquartered in Michigan, USA, currently has more than 3,500 employees, while Siemens has a total of more than 320,000 employees worldwide. The 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 its statement that the acquisition will give them the world's most comprehensive AI-driven design and simulation portfolio. This is of great strategic significance for enhancing Siemens' competitiveness in the industry, especially in the face of growing digital demand.
Key points:
Siemens acquired Altair Engineering for about $10 billion, aiming to enhance its artificial intelligence capabilities.
The acquisition is expected to increase Siemens' digital business revenue by 8%, equivalent to US$650 million.
Altair Engineering was founded in 1985 and currently has more than 3,500 employees in Michigan, USA.
Siemens' large-scale acquisition of Altair Engineering marks a further deepening of its strategic layout in the field of artificial intelligence and also indicates that the digital transformation in the industrial field will accelerate in the future. The success of this transaction will have a profound impact on Siemens' future development and deserve continuous attention.