Altair

Altair, founded in 1985 by James Scapa, George Christ, and Mark Kistner, is a computational intelligence company headquartered in Troy, Michigan.

Updated 6 Jun 2026 Reviewed by 7wData

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Altair sells software for computer simulation, high-performance computing, data analytics, and artificial intelligence, helping engineers and data scientists design products and analyze data.

Altair, founded in 1985 by James Scapa, George Christ, and Mark Kistner, is a computational intelligence company headquartered in Troy, Michigan. It provides software and cloud solutions for simulation, high-performance computing (HPC), data analytics, and artificial intelligence. The company's products include Altair HyperWorks for simulation, Altair HPCWorks for HPC and cloud, and Altair RapidMiner for data analytics and AI, all accessible via its Altair One cloud gateway and licensed through the Altair Units system.

In 2024, Altair reported total revenue of $665.8 million, up 8.7% from 2023, with software revenue of $611.9 million. Net income was $14.2 million, improving from a net loss of $8.9 million in 2023. The company employs approximately 3,000 people globally and serves over 16,000 customers across manufacturing, life sciences, energy, and financial services.

In a major strategic move, Siemens AG acquired Altair in 2025 for approximately $10.6 billion, or $113 per share in cash, a 19% premium over the stock price before media speculation. The deal closed in the first half of 2025, integrating Altair's portfolio into Siemens' Xcelerator platform to create what Siemens describes as a comprehensive AI-powered industrial software suite. Altair's journey from a Detroit startup to a publicly traded company (Nasdaq: ALTR) and now a Siemens subsidiary reflects its growth through organic development and acquisitions, including the 2022 purchase of RapidMiner for data science. The acquisition marks a significant consolidation in the industrial software market, combining Altair's simulation and HPC strengths with Siemens' mechanical and electronic design automation.

Products by Altair

Who buys this

Manufacturing and automotive companies
Life sciences and pharmaceutical firms
Energy and utilities organizations
Financial services institutions
Aerospace and defense contractors

Strengths and what to watch

Strengths

Broad portfolio spanning simulation, HPC, data analytics, and AI, with a unified licensing model (Altair Units) that gives customers flexible access to all tools.
Strong financial performance with consistent revenue growth: total revenue rose 8.7% in 2024 to $665.8 million, and adjusted EBITDA margin improved to 22.5%.
Strategic acquisition by Siemens for $10.6 billion provides access to Siemens' global customer base and distribution network, potentially accelerating adoption of Altair's products.

Watch for

Integration risk: Altair's products are being folded into Siemens' Xcelerator platform, and customer migration to Siemens support systems may cause friction or churn.
Dependence on a few large customers: Altair's 10-K filings indicate that a small number of clients account for a significant portion of revenue, creating concentration risk.
Competition from established players like Ansys, Dassault Systèmes, and MathWorks, which offer overlapping simulation and data analytics tools.

Recent moves

1y ago Siemens closes $10.6 billion acquisition of Altair, integrating its simulation and AI software into the Xcelerator platform.

Key Information

Industry: Data Science Platforms
Founded: 1985
Headquarters: Troy, Michigan

Frequently Asked Questions

What does Altair do?

Altair sells software for computer simulation, high-performance computing, data analytics, and artificial intelligence. Engineers and data scientists use its tools to design products and analyze data across industries like manufacturing, life sciences, energy, and financial services.

What are Altair's main products?

Altair's main products include Altair HyperWorks for simulation, Altair HPCWorks for high-performance computing and cloud, and Altair RapidMiner for data analytics and AI. These are accessible via the Altair One cloud gateway and licensed through the Altair Units system.

How much revenue did Altair report in 2024?

In 2024, Altair reported total revenue of $665.8 million, an 8.7% increase from 2023. Software revenue was $611.9 million, and net income was $14.2 million, improving from a net loss of $8.9 million the prior year.

Did Siemens acquire Altair?

Yes, Siemens AG acquired Altair in 2025 for approximately $10.6 billion, or $113 per share in cash. The deal closed in the first half of 2025, integrating Altair's portfolio into Siemens' Xcelerator platform to create an AI-powered industrial software suite.

What is the Altair Units licensing model?

Altair Units is a unified licensing model that gives customers flexible access to all of Altair's tools, including simulation, HPC, data analytics, and AI software. This approach allows users to allocate tokens across different products as needed.

What are the risks for Altair after the Siemens acquisition?

Key risks include integration challenges as Altair's products are folded into Siemens' Xcelerator platform, potential customer friction from migrating to Siemens support systems, and dependence on a few large clients, which creates concentration risk.

Sources

www.altair.com — Product portfolio details (HyperWorks, HPCWorks, RapidMiner, Altair One, Altair Units) and acquisition by Siemens.
finance.yahoo.com — Full year 2024 financial results: total revenue $665.8 million, software revenue $611.9 million, net income $14.2 million, adjusted EBITDA $149.9 million.
press.siemens.com — Siemens' announcement of the $10.6 billion acquisition and integration into Xcelerator.
www.financierworldwide.com — Deal details: $113 per share, 19% premium, expected close in H2 2025, financial and legal advisors.
last10k.com — SEC filings confirming Altair's 10-K for fiscal year ending December 31, 2024, and corporate governance details.