We are advising Altair on the transaction

Davis Polk is advising Altair Engineering Inc. on its acquisition by Siemens AG. Under the terms of the transaction, Altair stockholders will receive $113.00 per share in cash, representing an equity value of approximately $10.6 billion. The transaction is subject to customary closing conditions and required regulatory approvals and is expected to close in the second half of 2025.

Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics and artificial intelligence. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future.

Siemens AG is a leading technology company focused on industry, infrastructure, mobility and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable and transportation more sustainable. 

The Davis Polk corporate team includes partners Alan F. Denenberg and Michael Gilson, counsel Tierney O’Rourke and associate Karen Yang. Partner Veronica M. Wissel is providing executive compensation advice. Partner Patrick E. Sigmon is providing tax advice. Partner Matthew J. Bacal is providing intellectual property advice. Partner Arthur J. Burke is providing antitrust and competition advice. Partner Paul D. Marquardt and associate Chris Looney are providing foreign direct investment and compliance advice. Members of the Davis Polk team are based in the Northern California, New York and Washington DC offices.

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