TROY, Mich., January 23, 2025 /PRNewswire/ — Altair Engineering Inc. (“Altaïr“) (Nasdaq: ALTR), a global leader in computer intelligence, today announced that its shareholders voted at a special meeting to adopt the merger agreement with Siemens Industry Software Inc. (“)Siemens Industry“), a subsidiary of Siemens AG (“Siemens AG“).
The final voting results for the special meeting will be filed on a Form 8-K with the United States Securities and Exchange Commission (the “SECOND“) on January 22, 2025.
As previously announced, under the terms of the merger agreement, Siemens Industry will acquire all of the outstanding common shares of Altair for an amount $113.00 per share in cash. Once the transaction is finalized, Altair’s securities will no longer be listed on any public exchange.
About Altair
Altair is a global leader in computational intelligence providing software and cloud solutions in the areas of simulation, high-performance computing (HPC), data analytics and AI. Altair enables organizations across all industries to be more competitive and make smarter decisions in an increasingly connected world, while creating a greener, more sustainable future. To learn more, please visit www.altair.com.
About Siemens
Siemens AG (Berlin And Munich) is a leading technology company focused on industry, infrastructure, mobility and healthcare. The company’s goal is to create technology to transform everyone’s daily lives. By combining the real and digital worlds, Siemens enables its customers to accelerate their digital and sustainable transformations, making factories more efficient, cities more livable and transportation more sustainable. Siemens also owns a majority stake in publicly traded Siemens Healthineers, a leading global medical technology provider pioneering healthcare. For everyone. Everywhere. Sustainably. During fiscal year 2024, which ended on September 30, 2024the Siemens group generated a turnover of 75.9 billion euros and a net profit of 9.0 billion euros. Of the September 30, 2024the company employed approximately 312,000 people worldwide on a going concern basis. Further information is available on the Internet at www.siemens.com.
Forward-looking statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained in this communication that are not statements of historical fact, including statements regarding the proposed transaction, including the timing and anticipated closing of the proposed transaction. ; Altair’s ability to complete the proposed transaction; the expected benefits of the proposed transaction and other considerations taken into account by Altair’s Board of Directors in approving the proposed transaction; amounts to be received by shareholders and expectations regarding Altair before and after the closing of the proposed transaction may be deemed forward-looking statements. All such forward-looking statements are intended to provide management’s current expectations regarding the future of Altair, based on current expectations and assumptions regarding Altair’s business, the economy and other future conditions. Forward-looking statements generally can be identified by the use of words such as “believes”, “anticipates”, “may”, “should”, “will”, “plans”, “projects”, “expects”, “expectations,” “estimates,” “forecasts,” “predictions,” “goals,” “outlook,” “strategy,” “signs” and other words of similar meaning in relation to the discussion of the future. performance , plans, actions or events As forward-looking statements are made. relate to the future, they are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict. These risks and uncertainties include, among others: (i) the timing of completion of the proposed transaction, (ii) the timing of the proposed transaction. risk that a condition to closing of the proposed transaction will not be satisfied or that closing of the proposed transaction may not otherwise occur, (iii) the risk that any regulatory approval that may be required for the proposed transaction will not occur. either not obtained or is obtained subject to conditions that are not anticipated, (iv) diversion of management time on matters related to the transaction, (v) risks related to disruption of management time of ongoing business operations due to the proposed transaction, (vi ) the risk that any announcement relating to the proposed transaction may have an adverse effect on the market price of Altair’s common shares, (vii) the risk that the proposed transaction and its announcement may have an adverse effect on the ability of Altair to retain its customers and retain and hire key personnel and to maintain relationships with its suppliers and customers, (viii) the occurrence of any event, change or other circumstance or condition which may give rise to the termination of the merger agreement, (ix) the costs , unforeseen charges or expenses resulting from the merger, (x) potential merger-related litigation that may be brought against the parties to the merger agreement or their respective directors, officers or officers, including the effects of any outcome which is linked to it, (xi) the global economic or political changes that affect the markets served by Altair’s operations, which could affect demand for Altair’s products and impact Altair’s profitability and (xii) disruptions in global markets credit and financial markets, including a decrease in liquidity and availability of credit, changes in international trade agreements, including tariffs and trade. restrictions, cybersecurity vulnerabilities, foreign currency volatility, fluctuations in consumer confidence and spending, raw material pricing and supply issues, retention of key employees, fuel price increases and outcomes of legal proceedings, complaints and investigations. Therefore, actual results may differ materially from those contemplated by these forward-looking statements. Investors are therefore cautioned not to rely on any of these forward-looking statements. These are neither statements of historical fact nor guarantees or assurances of future performance. Additional information regarding factors that could cause actual results to differ materially from these forward-looking statements is available in Altair’s filings with the SEC, including the risks and uncertainties identified in Part I, Item 1A – Factors of risk of Altair’s annual report on form 10. -K for the financial year ended December 31, 2023 (which is available on https://www.sec.gov/ix?doc=/Archives/edgar/data/0001701732/000095017024018804/altr-20231231.htm ) and in Altair’s other filings with the SEC (which are available on Altair’s website at https://investor.altair.com/financials/quarterly-results). The list of factors is not intended to be exhaustive.
These forward-looking statements speak only as of the date of this communication, and Altair undertakes no obligation to update or revise any forward-looking statement made in this communication or which may from time to time be made by or on behalf of ‘Altair. .
Contacts:
Investor relations:
Stephen Palmtag
+1 669-328-9111
spalmtag@altair.com
Media Relations:
Jennifer Ristic
+1 216-849-3109
jristic@altair.com
SOURCE Altaïr
