Siemens' CEO, Roland Busch, has been steering the company towards higher-margin, software-driven product lines, making this acquisition a strategic fit. The move aligns with Siemens' goal to enhance its capabilities in providing comprehensive engineering solutions and to catch up with competitors like Rockwell Automation and Schneider Electric.
While Siemens is actively exploring the acquisition of Altair Engineering Inc., there are reports indicating that other potential bidders could also emerge for Altair. Both Siemens and Altair have declined to comment on the matter, and discussions are still ongoing.
While discussions are ongoing, there's no guarantee that Siemens will ultimately decide to proceed with the acquisition.
Siemens AG's most recent major acquisition was the purchase of Varian Medical Systems in August 2020. Siemens Healthineers, a subsidiary of Siemens AG, acquired Varian for approximately $16.4 billion. This acquisition aimed to strengthen Siemens' position in the medical technology and cancer care market.
Altair reported strong financial results for the third quarter of 2023, with software product revenue increasing by over 14% year-over-year.
Last month, Altair itself made an acquisition with KSK Analytics, to expand its AI reach in Japan and the Asia Pacific region.
It was in last week when Indianweb2.com reported that Altair Engineering is currently exploring a potential sale. The company, which has a market value of nearly $9 billion, has received acquisition interest and is working with investment bankers to gauge interest from potential bidders.
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