March 26, 2025 – Siemens announced today that it has completed the acquisition of Altair Engineering Inc., a leading provider of software in the industrial simulation and analysis market, for an enterprise value of approximately $10 billion. Both companies have extensive portfolios in engineering design tools that involve magnetic materials, properties and products.
With this acquisition, Siemens extends its leadership in simulation and industrial artificial intelligence by adding new capabilities in mechanical and electromagnetic simulation, high-performance computing, data science and AI. The addition of the Altair team and technology to Siemens will further enhance the most comprehensive Digital Twin and make simulation more accessible, so companies of any size can bring complex products to market faster.
For Siemens, the move also further weights its balance in high-growth areas and in digital products versus manufactured ones. As reported previously in Magnetics Magazine, last year it sold off its Innomotics business, a manufacturer of electric motors and large drives for industrial applications, for €3.5 billion. That deal closed in October 2024.
“We welcome the Altair community of customers, partners and colleagues to Siemens. Adding Altair’s groundbreaking innovations to the Siemens Xcelerator platform will create the world’s most complete AI-powered design, engineering and simulation portfolio. Together, we will help our customers to innovate at the scale and speed that today’s complexity-driven world demands,” said Roland Busch, President and CEO of Siemens AG. “Through the ONE Tech Company program, we will extend our leadership in industrial software. This enables all industries to benefit from the revolution driven by data and AI.”
Integrating Altair’s capabilities in the areas of simulation, HPC, data science, and AI enhances the ability of Siemens to drive more efficient and sustainable products and processes. Now, all Siemens customers, from engineers to generalists, will have access to new simulation expertise, can optimize their high-performance computing processes, create new AI tools and perform data analytics to help accelerate innovation and digital transformation for companies of all sizes.
The deal is part of Siemens’ ONE Tech Company program and will meaningfully increase Siemens’ digital revenue share and expand its market position as it prioritizes capital allocation to strategic growth fields.
With the completion of the acquisition of Altair as well as the recent expansions of Siemens’ factories in California and Texas, Siemens has now invested over $100 billion into the United States in the past 20 years. In fiscal 2024, which ended on September 30, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. Altair, with some 3,000 engineers on its staff and 29 locations globally, is headquartered in Troy, Michigan. See www.siemens.com and www.altair.com.
