Welcome to our dedicated page for Altair Engineeri news (Ticker: ALTR), a resource for investors and traders seeking the latest updates and insights on Altair Engineeri stock.
Overview of Altair Engineeri
Altair Engineeri is a technologically advanced company specializing in simulation technology, engineering software, high‐performance computing (HPC), and data analytics solutions. With a robust pedigree in computational intelligence, the company provides an integrated software suite designed to optimize product design, process efficiency, and decision-making, making it an essential partner for industries focused on innovation and performance optimization.
Core Business and Capabilities
At the heart of Altair Engineeri's operations is its commitment to developing advanced simulation and modeling tools. Its integrated suite covers a broad range of functionalities including:
- Simulation & Modeling: Software tools that simulate physical phenomena across multiple disciplines such as structural behavior, fluid dynamics, thermal management, and system dynamics.
- Product Design & Optimization: Solutions that enable cross-disciplinary product design from concept to in-service operation by leveraging optimization engines and solvers.
- High-Performance Computing: Cloud-based and HPC solutions that facilitate complex simulations and data-intensive applications, ensuring faster time-to-insight and efficient resource management.
- Data Analytics and Artificial Intelligence: Platforms that integrate machine learning, generative AI, and advanced data visualization to transform raw data into actionable knowledge.
Business Model and Market Position
Altair Engineeri predominantly generates revenue through its software segment by offering enterprise-class engineering tools on a licensing basis. In addition, the firm provides client engineering services that support customers through implementation, consulting, and technical support. This dual-channel model reinforces its market position and caters to a broad customer base ranging from major corporations to innovative startups in diverse industries.
Industry Applications and Impact
The company's technology is widely applicable across several sectors. It is instrumental in:
- Automotive and Aerospace: Enhancing vehicle performance through simulation-based design and the development of lighter, more efficient components.
- Government and Defense: Providing robust simulation and data analytics tools to improve decision-making and operational readiness.
- Consumer Products and Life Sciences: Innovating product development cycles with rapid prototyping and optimization solutions.
- Financial Services and Energy: Facilitating data-driven approaches to risk management and operational efficiency through advanced analytics.
Technological Advancements and Collaborations
Altair Engineeri continues to drive innovation by adopting cutting-edge research in areas such as quantum computing for computational fluid dynamics (CFD) and integrating advanced simulation techniques with AI-powered automation. The company regularly collaborates with leading universities, technology partners, and industry specialists to remain at the forefront of engineering software development. These initiatives not only enhance its product portfolio but also establish its credibility and technical expertise in the competitive landscape.
Expertise and Operational Excellence
With a heritage spanning several decades, Altair Engineeri combines a deep understanding of physics, engineering, and computational methods to deliver solutions that are both innovative and reliable. The quality of its offerings is underpinned by rigorous methodologies, extensive testing, and continuous improvement practices. This comprehensive approach ensures that clients achieve a competitive advantage by transforming complex data and engineering challenges into streamlined, effective solutions.
Summary
Altair Engineeri is a pivotal enabler of digital transformation in engineering and design. By marrying simulation technology with data analytics, HPC, and AI, the company empowers organizations to optimize their product lifecycles, reduce development costs, and accelerate time-to-market. It stands as a trusted resource in the global technology and manufacturing ecosystem, offering tools that drive smarter decisions and facilitate innovative breakthroughs across multiple industries.
Altair (Nasdaq: ALTR) has announced the availability of Altair® PollEx™ for ECAD, offering engineers advanced PCB verification tools at no cost. This solution, available as a one-year free trial, integrates with leading electronic computer-aided design (ECAD) tools, aiming to streamline design processes and enhance product quality from the early stages. PollEx for ECAD is part of the Altair® HyperWorks® platform and includes essential PCB verification tools for design review, analysis, and early verification. It helps users detect potential manufacturing and electrical issues early, reduce design iterations, and boost production yield. Altair will present this solution at Electronica 2024 in Munich, Germany, and PCB Carolina in Raleigh, North Carolina. For more information and to register for the trial, visit Altair's website.
Altair (ALTR) reported strong Q3 2024 financial results, with software revenue increasing 16.5% to $138.7 million and total revenue rising 13.0% to $151.5 million compared to Q3 2023. The company achieved a net income of $1.8 million, improving from a $4.4 million loss in the previous year. Adjusted EBITDA grew 66.3% to $25.7 million with a margin of 17.0%. Notably, Altair announced entering into a merger agreement with a Siemens subsidiary for acquisition.
Altair (ALTR) has announced a definitive agreement to be acquired by Siemens for $10.6 billion, with stockholders receiving $113.00 per share in cash. The offer represents a 19% premium to Altair's closing price on October 21, 2024, and a 13% premium to its unaffected all-time high closing price.
The strategic combination aims to merge Altair's broad portfolio in simulation, data science, and HPC with Siemens' position in mechanical and EDA design. The transaction, unanimously approved by Altair's Board of Directors, is expected to close in the second half of 2025, subject to regulatory approvals and stockholder approval. Upon completion, Altair will be delisted from public exchanges.
Altair (Nasdaq: ALTR), a global leader in computational intelligence, has announced its upcoming third quarter 2024 financial results conference call. The company will release its financial results for the quarter ended September 30, 2024 after the market close on Wednesday, October 30, 2024. Management will hold a conference call and webcast at 5 p.m. ET on the same day to review and discuss the Q3 2024 results, as well as provide insights on the fourth quarter and full year 2024 outlook.
Investors and interested parties can access the live webcast at http://investor.altair.com. A recorded version of the webcast will also be available for replay after the call at the same website.
Altair (Nasdaq: ALTR), a leader in computational intelligence, has announced its collaboration with Motivo, a product engineering firm. Motivo is utilizing Altair's engineering consulting and software to drive innovation in the aerospace industry. The partnership focuses on advancing engineering innovations, particularly in prototype development and testing for aerospace propulsion systems.
Motivo employs Altair's HPCWorks and HyperWorks platforms to meet design performance and optimization targets for next-generation subsystems, including propeller assemblies for VTOL aircraft. Altair's simulation and HPC tools enable Motivo to streamline design processes and leverage AI-powered engineering capabilities. The collaboration aims to deliver superior product designs for Motivo's aerospace clients, focusing on areas such as stiffness, fatigue life cycle, modal frequency, and safety margins.
Altair (Nasdaq: ALTR), a leader in computational intelligence, has named Cimatron , part of Sandvik Group, as a new global channel partner. This partnership aims to expand the reach of Altair's design and simulation solutions, particularly Altair Inspire Mold and Altair Inspire Form, within the manufacturing industry.
Cimatron, established in 1982, develops CAD/CAM software for various manufacturing sectors, specializing in mold and die making solutions. The collaboration will introduce Altair's technology to customers who may not currently use simulation or data analytics tools, helping them compete more effectively in the global marketplace.
The partnership is expected to boost customer productivity and enable the creation of higher quality, more efficient products across all manufacturing sectors. Cimatron's expertise in the mold, tool, and die business, combined with Altair's simulation capabilities, will help users predict and avoid manufacturing defects, ultimately saving time and money.
Altair (Nasdaq: ALTR) and researchers from the Technical University of Munich have made a breakthrough in quantum computing for computational fluid dynamics (CFD). The research, published in Computer Physics Communications, presents runnable code for quantum computers that overcomes key challenges in implementing the Lattice-Boltzmann Method. The paper introduces a generic quantum CFD algorithm for three-dimensional CFD, potentially bringing fully nonlinear 3D CFD to the quantum world.
This breakthrough demonstrates the scalability and model size possibilities of quantum computing compared to classical computing. It showcases quantum computing's practical application in tackling real-world problems, particularly in fields like CFD. The research was conducted under an Altair grant and co-authored by Altair executives and Technical University of Munich researchers.
Altair (Nasdaq: ALTR) has launched the 2024-2025 Altair Global Student Contest, offering nearly $30,000 in cash prizes. The contest focuses on robotics and mechatronics innovations using Altair software. Running from October 2024 to June 2025, students can optimize various robotic applications, including FIRST® Robotics Competition robots, manufacturing robots, and more.
Participants are encouraged to use Altair's optimization tools like Inspire™, AI Studio, and PSIM™. Quarterly prizes include $2,000 for first place, $1,000 for second, and $500 for third. Additionally, Altair will award three $5,000 FIRST team sponsorships and three Student Ambassadorships worth up to $1,000 each. The contest aims to showcase student talent and prepare them for real-world careers in engineering and design.
Altair (Nasdaq: ALTR) has joined the £5.8 million Performance Integrated Vehicle Optimization Technology (PIVOT) project, supported by Innovate UK and the Advanced Propulsion Centre. The initiative aims to revolutionize sustainable vehicle manufacturing through the development of 100% recycled cast aluminum structures that are up to 30% lighter and feature 95% less embedded carbon emissions.
The project, led by Sarginsons Industries, brings together partners including Altair, Aston Martin, Brunel University London, and GESCRAP. Altair's AI-powered engineering technology will drive the creation of innovative software combining casting simulation, topology optimization, and AI to design optimized components for weight, structural performance, and manufacturability.
Funded partly by a £2.9 million government grant, PIVOT will showcase how AI, recycled materials, and advanced casting processes can reshape vehicle manufacturing while reducing environmental impact. The project is expected to deliver critical advancements in the coming years, enabling OEMs and foundries to adopt more efficient and sustainable production methods.
Altair (Nasdaq: ALTR) has announced Crown Point Technologies as its official reseller for data analytics and AI solutions in the U.S. and Europe. This partnership aims to expand the reach of Altair's RapidMiner platform in the government and healthcare sectors. Crown Point Technologies' industry expertise will drive adoption of Altair's AI and data visualization tools.
The collaboration is expected to accelerate RapidMiner's adoption in key markets, enabling smarter decision-making and improved operational efficiency for businesses and government organizations. Altair was recently positioned as a Leader in Gartner's Magic Quadrant for Data Science and Machine Learning Platforms, highlighting the company's strong position in the data analytics and AI market.
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