TROY,
Mich., Jan. 22, 2025 /CNW/ -- Altair
Engineering Inc. ("Altair") (Nasdaq: ALTR), a global leader
in computational intelligence, today announced that its
stockholders 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
in a Form 8-K with the U.S. Securities and Exchange Commission (the
"SEC") on January 22,
2025.
As previously announced, under the terms of the merger
agreement, Siemens Industry will acquire all of the outstanding
shares of Altair's common stock for $113.00 per share in cash. Upon completion of the
transaction, Altair's securities will no longer be listed on any
public stock exchange.
About Altair
Altair is a global leader in computational intelligence that
provides software and cloud solutions in simulation,
high-performance computing (HPC), data analytics, and AI. 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. 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 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. Siemens also owns a majority stake in the publicly
listed company Siemens Healthineers, a leading global medical
technology provider pioneering breakthroughs in healthcare. For
everyone. Everywhere. Sustainably. In fiscal 2024, which ended on
September 30, 2024, the Siemens Group
generated revenue of €75.9 billion and net income of €9.0 billion.
As of September 30, 2024, the company
employed around 312,000 people worldwide on the basis of continuing
operations. Further information is available on the Internet at
www.siemens.com.
Forward Looking Statements
This communication contains "forward-looking statements" within
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 expected timing and closing of the
proposed transaction; Altair's ability to consummate the proposed
transaction; the expected benefits of the proposed transaction and
other considerations taken into account by the Altair Board of
Directors in approving the proposed transaction; the amounts to be
received by stockholders and expectations for Altair prior to and
following the closing of the proposed transaction, may be deemed to
be forward-looking statements. All such forward-looking statements
are intended to provide management's current expectations for the
future of Altair based on current expectations and assumptions
relating to Altair's business, the economy and other future
conditions. Forward-looking statements generally can be identified
through the use of words such as "believes," "anticipates," "may,"
"should," "will," "plans," "projects," "expects," "expectations,"
"estimates," "forecasts," "predicts," "targets," "prospects,"
"strategy," "signs," and other words of similar meaning in
connection with the discussion of future performance, plans,
actions or events. Because forward-looking statements relate to the
future, they are subject to inherent risks, uncertainties and
changes in circumstances that are difficult to predict. Such risks
and uncertainties include, among others: (i) the timing to
consummate the proposed transaction, (ii) the risk that a condition
of closing of the proposed transaction may not be satisfied or that
the closing of the proposed transaction might otherwise not occur,
(iii) the risk that a regulatory approval that may be required for
the proposed transaction is not obtained or is obtained subject to
conditions that are not anticipated, (iv) the diversion of
management time on transaction-related issues, (v) risks related to
disruption of management time from ongoing business operations due
to the proposed transaction, (vi) the risk that any announcements
relating to the proposed transaction could have adverse effects on
the market price of the common stock of Altair, (vii) the risk that
the proposed transaction and its announcement could have an adverse
effect on the ability of Altair to retain customers and retain and
hire key personnel and maintain relationships with its suppliers
and customers, (viii) the occurrence of any event, change or other
circumstance or condition that could give rise to the termination
of the merger agreement, (ix) unexpected costs, charges or expenses
resulting from the merger, (x) potential litigation relating to the
merger that could be instituted against the parties to the merger
agreement or their respective directors, managers or officers,
including the effects of any outcomes related thereto, (xi)
worldwide economic or political changes that affect the markets
that Altair's businesses serve which could have an effect on demand
for Altair's products and impact Altair's profitability and (xii)
disruptions in the global credit and financial markets, including
diminished liquidity and credit availability, changes in
international trade agreements, including tariffs and trade
restrictions, cyber-security vulnerabilities, foreign currency
volatility, swings in consumer confidence and spending, raw
material pricing and supply issues, retention of key employees,
increases in fuel prices, and outcomes of legal proceedings, claims
and investigations. Accordingly, actual results may differ
materially from those contemplated by these forward-looking
statements. Investors, therefore, are cautioned against relying on
any of these forward-looking statements. They are neither
statements of historical fact nor guarantees or assurances of
future performance. Additional information regarding the factors
that may 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 - Risk Factors of Altair's Annual Report on Form 10-K
for the fiscal year ended December 31,
2023 (which is available at
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 does not assume any obligation to
update or revise any forward-looking statement made in this
communication or that 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
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SOURCE Altair
