Siemens To Buy Altair For $10.6 Billion In Digital Portfolio Push (yahoo.com) 10
An anonymous reader quotes a report from Reuters: Siemens will buy Altair Engineering for $10.6 billion, the American engineering software firm said on Wednesday, as the German company seeks to strengthen its presence in the fast-growing industrial software market. The offer price of $113 per share represents a premium of about 18.7% to Altair's closing price on Oct. 21, a day before Reuters first reported that the company was exploring a sale. The deal for Michigan-based Altair is Siemens's biggest acquisition since Siemens Healthineers bought medical device maker Varian Medical Systems for $16.4 million in 2020. [...]
The transaction is anticipated to add to Siemens' earnings per share in about two years from the deal's closing, which is expected in the second half of 2025. It will also increase Siemens' digital business revenue by about 8%, adding approximately 600 million euros ($651.36 million) to the company's digital business revenue in fiscal 2023. The transaction would have a revenue impact of about $500 million per year in the mid-term and more than $1 billion per year in the long term, Siemens said.
The transaction is anticipated to add to Siemens' earnings per share in about two years from the deal's closing, which is expected in the second half of 2025. It will also increase Siemens' digital business revenue by about 8%, adding approximately 600 million euros ($651.36 million) to the company's digital business revenue in fiscal 2023. The transaction would have a revenue impact of about $500 million per year in the mid-term and more than $1 billion per year in the long term, Siemens said.
Oblig. (Score:2)
8800 joke goes here.
Re:Oblig. (Score:4, Funny)
it takes time to toggle
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50 years later he's still got the calluses on his fingers.
8800 (Score:2)
I actually have an Altair in my collection, but when I hear the name, I think of Forbidden Planet!
I never heard of this company before, but they've been around for over 30 years. Engineering consulting, heavy into CAD and simulation. Now also into data analytics.
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When I saw the headline, my 1st thought was of the computer also (Wait what? That company can't still be in business can it?). Nowadays I suppose the movie is better known than the old computer company (Whose name wasn't Altair but MITS or Micro Instrumentation and Telemetry Systems, Inc). So younger folks would think of the movie first.
For a second I was thinking that non-nerds would first think of the star, but then I realized non-nerds wouldn't know about the star either.
Why is this here? (Score:2)
Altair Engineering is a Michigan based company founded in 1985. Other than the name "Altair", it has no relation to the Altair 8800 computer made by MITS in 1974. I think both companies didn't even overlap in existence at all.
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Altair is also the company that sells PBS Professional which runs many of the world's super computers which would be relevant to "News for nerds. Stuff that matters." Insert lazy Beowulf Cluster joke here.
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Altair sells a bunch of software aimed right at nerds -- that's only one of many. But it's a big one!