On October 30, 2024, Siemens AG announced that it was going to acquire Altair Engineering, Inc. (ALTR) in an all cash deal with an enterprise value of $10.32 billion.
Siemens AG will acquire Altair Engineering, Inc. at a price of $113 per share in cash. The confirmation of this acquisition came just eight days after Reuters reported on October 22nd that Altair was considering a deal after receiving acquisition interest. The deal premium appeared to be just 4% over the prior day’s closing price but the premium on the 30 day average trading price was a little more than 16%.
Altair Engineering started out as an engineering consulting company but eventually evolved into a software company that focuses on computer-aided engineering (CAE), data analytics and more recently machine learning.
On account of cross-border regulatory concerns, the companies have provided a long deal timeline with the acquisition expected to close in the second half of 2025.
The purchase price represents a very rich multiple of 15.07 times sales and 160 times EBITDA.
Citi and J.P. Morgan have been appointed as the financial advisors for Altair Engineering, Inc., with legal advice being provided by Davis Polk & Wardwell LLP and Lowenstein Sandler LLP.
For more in-depth information about this merger and acquisition transaction, please visit the Deal Metrics page here:
Deal Metrics for the acquisition of Altair Engineering (ALTR) by Siemens AG
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