The Final Chapter for Altair Engineering Stock

For investors tracking the trajectory of Altair Engineering Inc., the story has reached its definitive conclusion. The company's publicly traded shares are no longer available, following its acquisition and subsequent delisting by industrial giant Siemens in the first quarter of 2025. The software specialist is now a wholly integrated component within the Siemens corporate structure.

Siemens executed this acquisition as a strategic maneuver to significantly enhance its portfolio in industrial software and artificial intelligence (AI). The intention is to merge Altair's established expertise in simulation, high-performance computing (HPC), and data science with Siemens' own Xcelerator platform. This integration aims to create a comprehensive, AI-driven suite for product design and simulation.

The transaction, valued at approximately $9.7 billion, received shareholder approval during a special meeting held on January 22, 2025. The deal was formally closed on March 26, 2025, leading to the immediate delisting of Altair's shares from the NASDAQ at the market's close that same day.

Shareholders Realize a Premium

The journey from public company to private subsidiary concluded with a substantial premium for equity holders. On October 30, 2024, Altair publicly confirmed it had entered into a definitive agreement to be acquired by Siemens Industry Software. The terms provided a cash payment of $113.00 per share to Altair's stockholders.

Should investors sell immediately? Or is it worth buying Altair Engineering?

This offer price represented a 19% premium over Altair's closing share price on October 21, 2024, a date which preceded public market speculation regarding a potential deal.

Strong Financials at the Time of Acquisition

Altair entered the acquisition from a position of financial strength. The company's full-year 2024 results demonstrated solid growth, with software revenue reaching $611.9 million, an increase of 11.3%. Total revenue climbed 8.7% to $665.8 million. Notably, the company reported a net income of $14.2 million, marking a sharp reversal from a net loss of $8.9 million in the prior year.

Implications for Former Investors

For previous investors in Altair Engineering, the investment cycle is now complete. The agreed-upon cash payout of $113.00 per share was distributed in March 2025. Moving forward, the operational performance and strategic direction of the former Altair business units will be reported within the broader financial disclosures of Siemens AG. The unit will operate privately within Siemens, with no current plans for a future initial public offering (IPO).