Siemens announced the acquisition of US firm Altair Engineering for US$10.6 billion, expanding its presence in the industrial software market.

Altair is best known for its simulation, modelling and computing cluster (HPC) software, which complements Siemens' mechanical and electronic design portfolio. Founded in 1985 and listed on the Nasdaq in 2017, Altair is headquartered in Troy, Michigan and employs more than 3,500 people.

In order to finance the acquisition, Siemens may consider divesting shares in certain businesses. Analysts suggest that this could include a reduction of the stake in Siemens Healthineers. Siemens, for example, already sold its 50 percent stake in its home appliance joint venture with Bosch in 2015 and also spun off Siemens Energy.

Siemens AG is a leading technology company focused on industry, infrastructure, transport and healthcare. In the fiscal year ending September 30, 2023, the Siemens Group generated revenues of €77.8 billion and net income of €8.5 billion. As of September 30, 2023, the company employed approximately 320,000 people worldwide.