Siemens, the German engineering company, is acquiring U.S.-based engineering software firm Altair Engineering for $10.6 billion. This move aims to enhance Siemens’ position in the rapidly growing industrial software market, reports Reuters.
The acquisition agreement with Michigan-based Altair marks Siemens’ largest purchase since 2020. Previously, in 2020, Siemens Healthineers acquired medical device manufacturer Varian Medical Systems for $16.4 billion.
Altair’s simulation software helps understand how products perform in the real world, aligning with Siemens’ strategies for utilizing hardware and software across both the physical and digital realms.
