Exhibit 99.1
Altair Engineering Inc. Stockholders Approve Proposed Merger with Siemens
TROY, Mich., January 22, 2025 – 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
