Siemens Acquires Altair Engineering in $10 Billion Deal to Lead AI-Powered Industrial Software

Article published on: 31st October 2024

Credit: techxplore.com

In Summary:

Siemens, the German industrial leader, announced its acquisition of US-based Altair Engineering for approximately $10 billion, marking a significant push into artificial intelligence and digital industry solutions. This acquisition enhances Siemens' capabilities in simulation, high-performance computing, and AI, aligning with the company’s strategic focus on digital technology and factory automation. With Altair’s expertise, Siemens aims to create a comprehensive AI-powered design and simulation portfolio, which will expand its digital business revenue by an estimated 8% and add around $650 million in revenue for fiscal 2023. This acquisition underscores Siemens' commitment to becoming a global leader in AI and industrial software.

For the full article, visit the original post on techxplore.com: Siemens acquires AI specialist Altair Engineering