Siemens Reinforces Leading Position in Industrial Software With Altair Deal -- Market Talk

Dow Jones10-31

0746 GMT - Siemens' acquisition of Altair reinforces the German company's position as the global leader in industrial software, JPMorgan analysts write in a research note. The industrial giant said it is acquiring Altair Engineering in an equity deal that values the software and technology company at about $10.6 billion. Altair shareholders will receive $113 per share in cash in a transaction that is expected to close in the second half of 2025. "The offering is complementary to Siemens' existing software offering within the group's Digital Industries business," the analysts say. Shares in Siemens closed at 179.48 euros on Wednesday. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

October 31, 2024 03:46 ET (07:46 GMT)

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