German group Siemens announced on Wednesday that it has acquired US software specialist Altair Engineering with the aim of strengthening its position in artificial intelligence (AI).
The acquisition is one of the biggest in the history of Siemens. The German conglomerate, which manufactures trains, turbines and digital solutions, aims to use it to accelerate its transformation into a company focused on technology and digital tools.
Its digital industry division, which includes software for industry and factory automation (robotisation of production processes), has become the driving force behind the group's growth in recent years.
Roland Busch, president and CEO of the German giant, said in a press release that the acquisition of Altair was an important step for Siemens.
"This strategic investment is in line with our commitment to accelerate the digital and sustainable transformation of our customers by connecting the real and digital worlds," Busch said.
"The addition of Altair’s capabilities in simulation, high performance computing, data science, and artificial intelligence, together with Siemens Xcelerator, will create the world's most complete AI-powered design and simulation portfolio,” he added.
Altair shareholders will receive $113 per share, which corresponds to an enterprise value of about $10 billion (€9.2 billion), according to the press release.
Altair Engineering, which describes itself as a global leader in computer science and artificial intelligence, was founded in 1985 and listed on the Nasdaq stock exchange in 2017.
The company is headquartered in Troy, Michigan (USA) and employs more than 3,500 people, compared with Siemens' 320,000 employees worldwide.
