Altair Engineering Explores Sale Amid Growing Acquisition Interest

Altair Engineering, valued at $8 billion, is contemplating a sale after acquisition interest, with investment bankers aiding in the process. Despite potential interest from rivals like Cadence Design Systems, a deal is uncertain as Altair might remain independent. The software maker's stock has grown 55% in the last year.

Altair Engineering, an engineering software company with an $8 billion market value, is exploring a potential sale following acquisition interest, according to three sources. The Michigan-based company is currently working with investment bankers to assess interest from potential buyers.

Sources indicate possible bidders could include competitors like Cadence Design Systems. However, it is still unclear whether Cadence has approached Altair, as neither company responded to requests for comment. The talks come as engineering software firms become attractive due to AI-driven investment trends.

Altair, founded in 1985, offers a suite of software solutions, including computer-aided engineering tools. Its stock has surged by 55% over the past year and trades at a higher multiple than peers, highlighting its market appeal amidst ongoing industry acquisitions and interest.

(With inputs from agencies.)